Sunday, April 17, 2011

Three Interesting Charts

Finally, its Sunday and the Globex reopens in less than 10 hours. I'm off to the golf course to kill about half the time but first I wanted to give you these charts to ponder.

First, take a look at this 12-hour chart of the June Long Bond. When Tungstenman downgraded all the commodities this week, look at the effect it had on the long bond. For an explanation, Trader Dan nailed it:
Once again, Tungstenman screws their clients for the benefit of the Fed.
The question I'd like you to ponder today: Just who/what was buying all these bonds this week? The dollar wasn't rallying so its not like there was a tsunami of "safe haven" buying from around the globe. If the demand was domestic, from where did it come? Pimco? Not likely IF you believe their latest pronouncements.
At any rate, the bond is banging right up against long-term resistance near 121 so I doubt its going much higher from here.

Now look at crude, the primary object of Tungstenman's verbal attack. It dipped mid-week but stopped right at the trendline that goes back to when the rally began in February. So, let me get this straight...The Squid carries the water for the Fed and tries indirectly to talk up the LB from critical support near 118. They succeed, albeit temporarily. In the process, they crush their clients who take their misbegotten advice and go short crude and other commodities. Crude is now set to resume its UPtrend which will take it back to the highs near 113.50 and likely much farther. The Tungstenman clients who are short will soon be forced to cover which will only serve to propel crude even higher.

Lastly, and most importantly, take a look at this daily silver chart. I'll leave my comments to a minimum. I want you to draw your own conclusions. However, note that with each "correction" in price, the lines of ascent subsequently get more steep. What does this tell you about:
1) Overall demand and interest in silver
2) The Cartel's ability to "manage" price
3) Near term direction of price
4) The likelihood that silver is currently making a top

Have a great day.
Enjoy the silence.
Relax and be happy.
Get ready for tomorrow.

If you own mining shares, you absolutely must take time to read both of these entries from Trader Dan.

A couple of other things...I'd like to think the Texans are smart enough to actually hold their gold. I mean physically hold and touch it. If they are relying upon the word of HSBC that "their" gold is in a vault somewhere...
Also, the Chicoms are raising the RRR again. Who cares?
Lastly, I was not implying that silver is topping. Far from it. There's a lot of time and a lot of UPside before any kind of intermediate-term top is in.

Only 135 minutes to go!!!


  1. Very interesting indeed. Enjoy reading!

    Texas University Endowment Storing About $1 Billion in Gold Bars

  2. Hey, I live in Austin. I may have to start a tunnel!
    I do have a question about this truism that GS or whomever always screwing their clients? Just who are these idiot clients who keep getting screwed? Really?
    I'm not picking on Mr. Turd you see this truism on ZH, many blogs. This is just one of those statements that you see every now and again, taken as truth, but makes no sense. What kind of sap would continue to lose money listening to GS or anyone?

  3. "Texas University Endowment Storing About $1 Billion in Gold Bars"

    If they've got them from Fort Knox then they'll break their drills if they try to check them.

  4. Thanks for all your work Turd !!

    Why is the VIX scraping along the bottom ??

    Another sign QE 3 is waiting in the wings ??

    If so, good for PM's :)

  5. Turd, thank you, you are a legend.

    See below my interpretation. I am but a layman compared to most watchers on this blog but I am doing my best and this really looks exciting.

    Waiting for the next big pullback, though I think $40 looks tough support and this won't go as low as $39!

  6. The two big reasons silver has been soaring

    Pass this around.

  7. Repost
    How much weight is $1Billion in gold anyway? It's Sunday morning and I am too lazy to do the math.

    OK I'm going to make a fairly easy assumption here that much of the UofT cash endowment flows from alums deeply involved in the miltary-ind. complex, maybe even our own CIA on the ground in Libya (155 tons of gold at stake) and the rest of MENA in play now. As more gold starts sloshing out of MENA, where will it end up and who stands to gain? Maybe the JPMorgue will become a more active broker now that they got their new PM warehouse approved in record time.

    Just idle mind doodling, no links to back this up.

  8. This is the best article on silver i've ever seen. It will run as an Ad on the last week of April :)

  9. At Friday's closing price and assuming gold reserves are reported in metric tons, it looks like $1B in gold is about 21 tonnes. That is a mere 13.5% of Gaddafi's gold stash. Do I have that right?

    It should be an easy skim after the practice some of the boots on the ground have had in previous regime change exercises. Maybe the new Libyan rebel central bank formed last week is the broker. How fun!

  10. TF is the steamiest, but I agree with Pat on his point about GS clients. Are there really that many filthy rich GS clients willing to repeatedly be raped by GS in this manner? Shouldn't they all be broke by now if they've been getting burned by every lie GS/Hatzius lays down?

    Who is following GS's advice at this point? Maybe someone with unlimited cash directly from the FED like John Mack's wife?

    Does everyone agree that the UT news is a tipping point? Kyle Bass is money. I think this is incredibly big news for us.

  11. Dave 46...
    Irrational exuberance and they have successfully lulled everyone into a false sense of security as far as pumping up the need to be in the market.

    The market is based on companies earnings mostly and profitability.
    A devalued dollar means that everything is more expensive in relation, especially internationally.
    When the U.S. based international companies do well oversea's in other currencies and then convert back to the U$D they then have a whole lot of U$D to report as earnings.
    The companies doing well will always have higher earnings to report back "home".
    Higher earnings being reported is almost normal but not really indicative of how our economy is doing but the exchange rate due to the weaker U$D.

    The VIX indicater could just be manipulated like the CPI is IMO. Who's to say?

  12. im golfing today too, lets see who shoots the better score??

  13. BlackHawk, Brad...
    $1,000,000,000 divided $1485= 673,400 oz.s = 42087 lbs = 21.04 tons approx.

  14. I'm asking everyone on here to look at this article/link "the two reasons silver is soaring" and FORWARD THE LINK to everyone they know and to ask them to FORWARD IT TO EVERYONE they know.

    Lets get the ball rolling as much as possible.
    It's a free article.

  15. Thanks @DPH

    I thought the uncertainty about QE 3 might create

    some volatility. When the VIX didn't move, it

    seemed like QE 3 was more certain. I think you're

    right though, with manipulated markets, it's a

    guessing game.

  16. Thanks for the update Turd. Keep your head down and follow through.

  17. Just to keep it in pounds so people have a frame of reference, I'm getting about 46,000 pounds, at 1486.

    DPH, I think you have it right except you didn't convert troy ounces to "regular", avoirdupois ounces. 31.1 grams in a troy ounce, 28.4 in a regular, more or less.

  18. Scottj...check this link out!

  19. Thanks Eric#1...

    I'm no math whiz and kept it simple. I knew there was more to it then what I laid out but didn't know those specifics.

  20. Alright, I'm coming out of the shadows from the past few weeks with something to contribute. Its a great look at possibly why NATO (*cough*US*cough*) is really in Libya. I personally think its for both oil and banking, but banking being the primary reason. They were viewed as a threat to the cartel with their huge gold reserves and STATE-owned ... not privately owned... central bank.

  21. Gold and silver coin shop update -
    The story of the silver coinage is that I visited a coin shop which was selling silver at $5.00 over spot (cost around $48.50 per one ounce silver American silver eagle). She was paying $0.50 over spot to acquire 1 oz ASE.

    Another coin shop was selling at $4.00 over spot and acquiring at $1.50 over spot.

    EBAY seems to be at $48 to $50 per ounce and that's without shipping costs.

    The PHYSICAL MARKET IS ALREADY AT $50 PER OUNCE THIS WEEKEND. Comex would need to see silver back down to $36.00 per ounce in order to have pricing on the street correct to below $40 per ounce. It is currently at $50 on EBAY and in our local coin stores. Moreover, the silver availability in those local coin stores is not good. People are moving into silver very aggressively.

    I am going to another store later today to continue taking the pulse of silver and gold in this area.

    Here's one last grenade.
    JPM is at $44 per ounce.
    Silver is at $43.05. If buying shows strength starting at 3 PM, we may see conditional insolvency of JPM's silver position based upon their share price being LESS THAN the price of silver in US dollars.

    I am guessing that the Monkeys are working this Sunday afternoon and they are NOT at the golf course.

  22. Yes Turd, it's more and more about long bond (Thungstenmann = central bank; central bank = Thungstenmann, it's all the same)

    This (if I understand it correctly) is a huge bet on bond prices going up. Or desperate action to push them up. Perhaps both.

    Which could mean that ouf of 2 choices, they'll favour bonds over strong dollar.

    Which could mean no rate hike, which could mean orchestrated (stock)market crash (to force flows into bonds).

    Anybody agrees/disagrees?

  23. Guys
    That story about Texas is being interpreted by me as a story about secession from the United States. If Austin has 1500 gold bars sitting in a vault, they could legitimately begin to print their own currency against those gold and silver reserve vaults.

    Based on Eric's calculation, and the density of gold (see for a calculation), about 1500 of those gold bars would need to move to a Texas vault in order to equate to the claimed Texas reserve.

    Each of those gold bars is about 30 pounds. So, you would need to lock up 1500 gold bars to equate to the gold reserve postulated.

    That may be the largest gold reserve owned by any state in the United States. It may also be more than the US federal government has in Fort Knox or in NYC's Federal Reserve Bank vault. In fact, it may be the very bars FROM Fort Knox and FROM the FRB Vault. That gold could even be from California's gold rush, German or Japanese "acquisition" in the early 1940's, or from Mexican border skirmishes over the past 100 years.

    Just some Sunday morning thoughts about Texas gold.

  24. From Bloomberg and GATA:

    The endowment, which oversees funds held by the University of Texas System and Texas A&M University, has 6,643 bars of bullion, or 664,300 ounces, in a Comex-registered vault in New York owned by HSBC Holdings Plc, the London-based bank, according to a report distributed at yesterday’s meeting in Austin.

  25. strongsidejedi:

    deep thoughts for a Sunday morning

    RE: Libya bank--watch for the rebels to declare Benghazi as the new capitol of the yet to be formed new nation.

  26. Black Hawk: if the gold is in some Comex vault, then Texas has a receipt, but no gold in hand.

  27. For those invested in the miners and sensing the lag, check out Trader Dan's latest two articles from yesterday. There is likely a "snap" coming for these undervalued instruments.

  28. My favorite coin shop was out of maples, eagles, and phils (ag) on thurs and Friday. Shop opened late on sat. With increased margins on some new found rounds. Had dinner with the owner a couple of months back. I asked about availability then, and he said there was no shortage, and he didn't for see one. Changed his tune a bit this weekend. Seems like all of us little fish are buying with both Hands.

  29. Long time reader first post.

    Turd thanks for your work and insight, been following the site since you announced on ZH that you were beginning here. thanks to you and to everyone who contributes to the open and civil dialogue found here.

    here are two sights that are worth a regular look IMHO

    If this is old news to you please pardon but wanted to share.

    The King World News site provides great regular audio "broadcast" interviews with some of the most experienced and best minds on the planet on a weekly basis and they are well worth the listen. Eric King is a great well informed interviewer although he is clearly in our camp.

    Eric Sprott, Jim Grant, Ben Davies, Rick Rule, James Turk, Dan Norcini (weekly metals wrap), Marc Faber, John Hathaway, John Embry, Robin Griffiths, Bill Fleckinstein etc etc. to name a few are regulars.

    These interviews are not about timing per se but insight into the macro economic drivers of this bull market from folks who are managing large amounts of money and see what is happening clearly. (as we do here dare I say)

    I look forward to listening every Saturday morning with my coffee as I go through withdrawal from the market being closed.

    Secondly I saw someone mention refreshing the kitco site to follow price action which is a pain, and wanted to share this site as a way to follow live price, as an alternative.

    use the dashboard to choose the instrument, (it loads on gold price), as well time frame (as short as ticks available) and chart type line, candle etc. lots to play with on the dashboard and more fun to watch live than refreshing kitco.

    Cheers and thanks!

  30. For people preparing food supplies - don't forget that one of the easiest fresh food sources to "grow" is sprouts. All you need are viable seeds and within days you have some of the most nutritious food on the planet ready to eat - plus it's simple and a lot of fun for kids to grow. Sprouts are easily grown indoors, so are available 12 months out of the year (although many do love the sun for part of the growing cycle). No special equipment is needed beyond a colander and a bowl or jar and the varieties range from mung bean to lentil to chickpea to fenugreek to rye. When I lived in LA, I used to sprout 6 varieties at a time for salads, sandwiches and smoothies.

    If fresh vegetables are difficult to obtain at any point, sprouts can jump to the rescue as they are chock full of highly digestible protein, fiber vitamins and enzymes and lots of phyto-nutrients and other wonderful stuff. Plus they can be eaten raw or cooked and cost practically nothing.

    And did I mention they TASTE GREAT!!! Sprouts range in flavor from nuttiness to to leafy, so everyone can find a favorite.

    WARNING: Don't get ripped off. You DO NOT need fancy or dedicated sprouting containers to successfully grow sprouts. All I ever used were repurposed wide-mouth mason jars covered with screens which were held in place by heavy duty rubber bands. For the screens, I went to the hardware store, bought a roll of the plasticized screening material used for window screens and cut it up to fit the opening of the mason jar. Total cost for all of the equipment to sprout half a dozen varieties was less than $3.00!

    I know that canned bacon is the practically a mascot on this blog, but sprouts deserve a friendly look/see too!

    Here's a couple of links to get you started.

  31. Sure, silver has had a huge upleg since QE began and has been gaining momentum. If you're long, I think one not be concerned cause time is your benefactor.

    But if you're all wrapped up in silver and PM's, and it does stand to reason that if everything falls so will gold and silver, you might want to be more realistic with your enthusiasm.

    Gold and silver vs S&P 500 since June 2007:

    What silver does possess, especially when you look at this chart, is an amazing resiliency. Look how quickly it recovered vs the S&P. It took one month to get back on track vs the S&P which took over a year!

    Hedge your bets wisely.

  32. Dmon - welcome aboard - I think you will find a bunch of KWN junkies here, always waiting for their next fix. Dan Norcine (Trader Dan) is a favourite of many, including me!

    And here is another great link for watching live silver:

    just click on instruments and away you go. There are others, but this is certainly a popular one here.

    bbdgoco - re avatars - I went to Google accounts, and there was an option to edit my profile and that led me to a window that let me upload a picture from either my computer of the internet and then it automatically appeared here, when I sign in as Xty(Google).

  33. This is because the linear scale. With logarithmic scale, silver keeps the slope of the trend.

    I apologize for my bad English

    In this link you can see the chart with a logarithmic scale.

  34. Irene - but a bacon and sprout sandwich would be delicious and a whole lot healthier. And speaking of which, the aroma of bacon is filling my house and I must go downstairs.

  35. OMG, Xty, what a great idea! ;)

  36. ERIC, ERIC! Are you out there???? Xty has come up with the perfect SHTF sammich!

  37. xty- thanks for the welcome.

    I figured there must be more than a few KWN junkies here.

    Good to know I am not alone in needing my weekly audio interview fix!

  38. Do we have any PLATINUM bugs on board here? If so, this might be of interest (I meant to post this earlier, sorry). We are going to see amazing stuff coming out of nanotechnology. And just ten years ago people thought nano-T ideas were science fiction. ;)

    Bracing Nano-Platinum In Catalyst Material Makes Fuel Cell Component Work Better And Last Longer

  39. Irene/xty

    Yeah, I was thinking the same thing! Maybe substitute sprouts for the lettuce in BLT?

  40. Dmon

    OMG, no matter how busy I am, whatever else I have to skim or skip, I never ever miss the "Weekly Metals Wrap"!

  41. @ Dmon

    If you're really dying and need a fix, the goldseek radio programs with Chris Waltzek often interview the same guests as KWN. They also have a 2 hr. weekly roundup that ranges from nuts to bolts with Chris. (Plus, I love the music he plays.) He also doesn't ask the guests such leading questions which sometimes get a bit irritating on KWN. ;)

  42. Hi Eric!

    Yes! That's exactly why I posted. Sprouts make great substitutes for lettuce and other vegetables, even nuts (flavor wise) and can be grown quickly in a pinch. You just need to throw a handful of seeds into a jar with water and watch those babies grow.

    My husband and most other guys I know appreciate the man-flavored sprouts like radish sprouts. When I make sandwiches using TJ's chilli-lemon flavored fajitas, I top them with a strong-flavored sprout. Plus, they hold up well with a strong beer. ;)

  43. Excellent take by the always excellent Jesse...

  44. irene - you just throw them in water? How full do you fill the jars? And I think I got the screening part, so the seeds grow through the mesh. But that is amazing. I was wondering about the mason jars and thinking they were an odd choice for soil. I am going to have to try this. I'll bet they have the seeds at the Home Hardware at the foot of our street.

    And I only own three platinum things but want more. And someone has been posting about the price ratio to gold going to 1:1 right now, where platinum is usually much more expensive. So there could be a blast up coming for platinum. I inherited a ring from my granny that I just love.

    The UofTexas (I can't call it the UofT, as that is the University of Toronto - I thought it was called UT - I had a brother who got his Masters there)
    story strikes me as very important. That is going to create waves - and look at how calmly the guy states that gold is a currency. Awesome.

  45. I agree the demand for bonds is just not there without the fed, although shouldn't the stated end of QE2 be priced in by now? I'm thinking we will see another leg up in bonds soon like last year since they will need risk off sentiment to justify QE3 at some point. Basically a repeat of last year when gold made a $200 run real quick. I guess this is very consistent with turd's 1600 target. Who know what silver could do this year with the EE losing its grip on the market.

    Can't say that I would advise putting much of your wealth in the stock market, but I think the VIX /equity puts in general looks very cheap here and a good hedge should "risk off" sentiment take hold and bring down everything including PM's.

    Hit em straight Turd!

  46. BlackHawk HSBC is holding texas endowment gold.Hmmmm Harvey's cot cme report yesterday made note of a large "odd" transfer of gold bullion from Hsbc to jpm's shiney, until now relatively empty, we don't have to wait 45 days for approval like everybody else does comex approved vault.Hmmm, texas would be wise to send a truck toHsbc to pick up their shiny.

  47. Passing time on the golf course, counting down the hours til the Globex open. We are sick!

  48. Pat and others were questioning the Goldman Sacks story. But I am not quite sure what there is to question. They definitely released a statement calling for lightening up on commodity holdings in the near term, six month outlook. Yes they must have upset clients, but they did release the statement - what exactly are you questioning?

    BTW - I lost the previous version of this comment. I think it might happen if two people go to post at the exact same time. So piece of advice to anyone new - Turd does NOT make your posts go away - there is a problem with Google or something and sometimes they just vanish. Copy before you hit Post Comment, especially on anything long, and you will avoid heartbreak.

  49. I am going to sell 70% of my PSLV next Tuesday.

    I believe the silver price in Thursday will peaked, then drop 5%-10% from there. What do you guys think?

  50. @ Xty

    There are basically two categories of sprouts: both begin their germination process in water and then one group is kept moist and rinsed a couple times of day until they finish growing and the other group is planted in shallow soil. For simplicity's sake (and cuz I live in an apartment), soil is out.

    Depending on the seed or lentil or bean you start with, I usually put in 1/2 to 1 cup of seed in the mason jar. You cut the screening large enough to cover the top and fold over for 2 inches so that you can use a rubber band to secure the screening around the mouth of the jar.

    Why the screening? Sprouts needs to be rinsed. It's just easier to tip the water out of a jar full of seeds or sprouts with screening there to let the water in or out but keep the sprouts in.

    You'll need to check out those links from above for the germination time of the various sprouts. In general, they sit covered in water until you see a little tail protruding from the seed. At that point, the soaking water is disposed of and you go into the rinsing stage where you keep the sprouts damp.

    Does this make sense? ;)

  51. Xty,
    I was questioning the internet "truism" that GS, JPM, and their ilk are forever screwing their clients while their prop desks make out like bandits. Yes, GS release articles all the time. My question is, " Just who are these client saps who are forever getting prison sex from GS et al". Unless of course they actually enjoy prison sex.

  52. So, what do yall think about what Turd postulates in this post when he says " what does this say about silver reaching a top" ? at this parabolic looks like this almost HAS TO BE at the very least, a short term top. I mean, something, from a technical standpoint, has got to give. A chart just can't go straight up without a correction like that. Are many of you holding back on purchases cause you think a pullback's going to happen? The chart is just So Damn steep!

  53. Rob,
    The debt has to be inflated away; the Fed is doing exactly what they said they would do ( and will continue). Other fiats are in just as bad a shape.
    Gold and silver, and other hard assets, are merely responding to the death of fiats.
    We are still in the early innings of those deaths

  54. Kitco seems to be on the side of the banksters. I've noticed that when either the price is going straight up or, more importantly, when the raids are occurring, there is as much as a 2 hour lag on the green line moving graph; although the metal charts are up to date. I've been making serious bread on PSLV with 5000sh timing the bottom of the raid and placing continuing stops.
    I have the suspicion that the banksters are shorting PSLV at the same time they raid the market.

  55. Dmon, another audio program I get a kick out of is the daily "Patriot News Hour" put on by All American Gold. Pretty good web site also at

  56. Oops, Patriot Trading Group, not All American Gold. Thats the web site.

  57. Turd,

    I am NOT a mathematician.

    But increasingly steep angles of ascent? Isn't that the definition of parabola?

  58. Just getting through some of the comments...

    For all the naysayers:

    1. The hardest thing to do is stay til the END of a bull market.

    2. We are NOT in the mania phase yet.

    Hang tough my brethren...

  59. Re tops

    I'm not a finance person, but I have seen many, many commodities go parabolic and nobody ever thought they could just keep going up...until they did. Sugar, cooking oil, silver, toilet paper (yes, there was a "shortage" once), wheat, rice, coffee - 'nuff said. Sugar I remember going from around $0.59/5 lb. to $4.00+/5 lb. in such short order that we were gasping! And then it stayed there and anything that used sugar - from jam to soda - started to go way up in price.

    Coulda, shoulda, woulda. That's not how the market works. It is what it is. At least, that's been my experience.

  60. Turd i have a question: i have bought some longer dated silver calls (Sep11, Dec11) and looking to get some dec12 (these are long term hold positions so I am not trading around them) but wanted to know if I should always have front month exposure as well? Do you think I should always have something in the current delivery month for when the big squeeze starts?

  61. looking at slv chart it appears that about every 15 days to 20 give or take silver gets a beatdown and i have timed the last 2 beatdowns badly so im just gonna wait for the next one then im getting some and riding that to silver 49 and selling before the magic 50. i hope this works. comex fuked me last 2 times i tried to buy exk and im still pissed and licking my wounds. this time ill be ready

  62. re: PSLV shorts
    Watching my PSLV price in one window and XAG/USD in another, I've noticed that on a good XAG run, PSLV takes a dip first while XAG is still cresting then 30 seconds to 1 minute later XAG takes a dump. As in raid dump (30-50 cents in 1-2 mins). Gist of it is that PSLV is leading XAG! You'd expect it to work the other way around.

    I've seen this often enough that I consider it more significant than mere anomaly. Is it being shorted or are large PSLV holders front-running the EE raid and timing the selling of their longs?

  63. KWN has a little blurb of Pierre Lassonde discussing the Texas gold. Hopefully there will be more of an audio interview in a few days.$1_Billion_of_Gold_Bars.html

  64. Geithner confident Congress will raise debt limit.

    Is this going to be a good news for our PM?

  65. re: Pailin's XAG/USD trading strategy
    It looks like a few of you appreciated my comments, which makes me happy. I wasn't born fully formed, comments here and elsewhere (zerohedge, harvey organ, KWN, SGS, etc.) have helped me too. Just returning the favor. But PLEASE DYODD before placing a bet (XAG/USD on 50x leverage is definitely gambling!) My strategy works for me, with an acct balance that I'm comfortable losing 100% of. Anybody playing XAG/USD needs to find a comfort zone too or risk being depressed, because it's a definite that you will zig just moments before EE zags and then you'll (at least on paper) be out buncha bennies all of a sudden. It happens.

    As my trading strategy evolves, I'll continue to share, at least until somebody tells me to shut up :)

    One final reminder (and story) - Physical is real, the rest is a ponzi. The story is, I bought physical on the dip last Monday morning, but didn't wait long enough. I bought the lame duck dip from overnight, pennies on the dollar. Almost as soon as I executed with Provident, XAG went on to lose another $1.50 or so, bottoming Tuesday at 39.80 (or thereabouts?) For a little while I was kicking myself for buying in mid-41s + premium. But the week turned around and now my buy looks really sexy. Those same ounces would have cost me another $100+ today. But that doesn't really matter. I've got REAL OUNCES on the way, the dollars are a buncha whaterver. Don't forget that!

  66. one day silver will retrace alot as for gold it will always keep its value and slowly increase.silver on the other hand will always be manipulated on a jpm yoyo

  67. Come on Globex...I've run out of things to do....

  68. As a daily reader, I find it an endless source of amusement that the subject matter inevitably reverts back to, of all things, BACON. Too funny.

    Everybody keep up the good work. Love the reading.

  69. TF asks: "The question I'd like you to ponder today: Just who/what was buying all these bonds this week?"

    I don't have the answer but will throw this tidbit I read yesterday...

    "After China and Japan, Britain is the 3rd largest holder of U.S. Treasury securities. The British holdings jumped 63% in February to $295.5 billion"

    Now I realize this is April and not way back in February, but a 63% jump then was enormous.

    I can't help but think it was possibly the Brit's again. The only reason/guess I can take is that our allies are paying us (buying treasuries) to prop them up in their NATO effort in Libya. Maybe it's a way for them to pay the freight for us to be militarily involved because they can't take on Libya on their own and they are paying us by buying bonds.
    If you stretch out my guess, it makes more sense how we got into the Libya thing in the first place half-heartedly. We needed to do so for financial reasons domestically.
    Britian and France basically striking a deal with us to increase their treasury purchases to back them up because "they' needed to keep the Libya oiling flowing for their benefit, not our's. And they know we need the money.
    Just guessing on this and it could be as simple as they needed our muscle and were willing to pay for it.
    Time will tell who is buying the treasuries. Maybe it's the Fed in some undisclosed 3rd party way buying our own bonds and not saying so. A secret QE 2+
    At this point anything is possible in my mind.
    Maybe the big banks are buying them with Fed money on the QT. Things are that messed up that anything is possible.

  70. Finally got a chance to listen to the Rick Rule interview at KWN. Excellent. Especially his perspectives on USD vs other currencies vs gold. Also oil, uranium, and miners. Not a damn thing in there about BACON though!

  71. OMG, more bacon talk! (picture Homer Simpson drooling over bacon, not doughnuts)

    Pailin...keep the usd/xag talk coming whenever you feel like it.
    It was making me a bit nuts the past week reading a bunch of people talking about XAG and I had no idea what they were talking about. I thought it was some ticker symbol for a miner etc. I had no clue about. I now understand.

  72. li,

    I would hold the PSLV. You already paid the premium.

    Regarding Geithner and the national debt. The alternatives are don't raise the debt and default, or, raise the debt and extend the Ponzi scheme.

    Of course they will raise the debt and it will be GREAT for PMs.

  73. Just got my JSMineset e-mail reminder about Trader Dan on KWN.
    Headed there now. I usually do so every Sunday.

  74. On Kitco and John Nadler: I've long been suspicious of ulterior motives on Nadler's part and hence of the company as well. About a year ago I read this:

    Kitco's Nadler Problem on a site I ran into called "Silver Enthusiast" and I highly recommend reading the article and the few comments. (Okay, so I commented too...) There's another even longer comment thread regarding Nadler on that site, but I did not participate. But I think reading these columns validated my opinions, so I thought I'd pass it along.

    Bottom line is that were I one of the GMF's I would certainly have some dealers at my disposal to do my bidding. Don't mind me though; I haven't believed anything to come from "official sources" since 1963. :-(

    Sprouts are among my favorites, and this year the critters won't be getting my strawberries!

    Ol' Michael
    "...paper is paper, and money is money."

  75. The GS clients getting fleeced are people like my father and his golf buddies, my banker uncle and his bowling buddies, all of whom earned their money in businesses where they are experts. They have no clue about sound investment advice. My uncle did not even understand why th big banks failed in 2008 when I asked about it. But he is sure good at running a community bank. They hire a "pro" to manage their money after they earn it. All y'all are special people who understand sophisticated investing AND some of us earn a living elsewhere while trying to learn about investing--we are by far the exception.

  76. Turd! You're the sh*t! Thanks for EVERYTHING! That also goes to the contributors here as well.

    I've been lurking here everyday since early December. That fateful night when I discovered your blog I went back and read all of your earlier posts and comments. I understood it all when January hit. Here I've learned more about PM than any school, teacher, or savvy trader friend had ever taught me!

    Suddenly I've become the expert among my top calling "expert" friends. They have nothing to say when I point out the fundamentals.

    I'm learning, absorbing everyday and have prepaired accordingly. 44.01 by Friday close.

    Thanks Man!

  77. Since folks were giving coin shop updates I thought I'd give mine via my wife. At our local coin shop they are buying silver at spot. AT SPOT. And as of Friday they were selling at $45/oz.

    Now here's where it gets interesting. They're taking in so much silver that their asses are on fire. Bearish right? Not so fast. According to my wife all the silver that is brought in is quickly categorized and sold within an hour. I'm asking her to get more information on this, because it likely means they have a deal with a huge buyer that is buying as soon as it hits the store.

    Next interesting point. Silver is coming in so quickly and being bought so quickly. They have completely thrown out any numismatic premiums regarding pricing. Any coin that is 1oz of silver was selling at $45 as of Friday. Haha can you believe that? Needless to say she came home with some awesome goodies that I don't want to talk about, but they are all older low mintage silver coins that could easily fetch multiples of their silver content value or more.

    By the way, don't ask where this is because I'm not telling for what you now hopefully see are obvious reasons. :)


    p.s. Gold isn't really moving by the way. No one came into sell and no one came in to buy. I'm still chewing on that one and what it might mean both good and ill.

  78. Torx1953:

    Didn't Turd also hint the silver will peak in a short term? I bot some silver eagles last friday, I guess it would be good to sell high premium pslv while buying lower premium eagles.

    Isn't this a good trade for small investor like me? What is your opinions?

  79. A Golden Tipping Point: University of Texas Takes Delivery Of $1 Billion In Physical Gold

    Turd long time follower from the start never posted before but thought this was significant. I think this could be the catalyst to move to the next phase. Your opinion is highly anticipated and regarded.

    Tipping points are funny: for years, decades, even centuries, the conditions for an event to occur may be ripe yet nothing happens. Then, in an instant, a shift occurs, whether its is due a change in conventional wisdom, due to an exogenous event or due to something completely inexplicable. That event, colloquially called a black swan in recent years, changes the prevalent perception of reality in a moment. This past week, we were seeing the effect of a tipping point in process, with gold prices rising to new all time highs day after day, and the price of silver literally moving in a parabolic fashion. What was missing was the cause. We now know what it is: per Bloomberg: "The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board." And so, the game theory of a nearly 100 year old system of monetary exchange has seen its first defector, but most certainly not last. With an entity as large as the University of Texas calling the bluff of the Comex, the Chairman, and fiat in general in roughly that order, virtually every other asset manager is now sure to follow, considering there is not nearly enough physical gold to satisfy all paper gold in existence by a factor of about 100x. The proverbial Nash equilibrium has just been broken.

    Keep up the great work my friend.


  80. Just got done listening to Trader Dan at KWN.
    I really enjoy that segment and I recommend it to anyone who has never gone there.

    Is it just me, or does Eric King have a totally soothing voice or what?
    Maybe thats weird of me, but I could listen to him just talk and it might not even matter what he is talking about.

    Here's the link...

    Left side of page where it says "Listen to MP3 click here"...Trader Dan is at the 6:00 minute mark approx.


    Spreadsheet here or copy and paste the link below into your browser address bar.

    I hope I captured everybody!

    Total Number of Entrants: 204
    Lowest Prediction: $33.88
    Highest Prediction: $66.60
    Mean Prediction: $45.21

    Notable absences from the poll:

    Turd and Yukon Cornelius :)

    That link again:

    I probably won't be able to update this further today - planning on getting away from the computer and enjoying the grey Seattle sky.

  82. A few thoughts on UTs $1B purchase. I re-read the article and it just dawned on me that UT didn't just now buy gold. It says last year they added $500m of paper gold to their existing gold holdings. Now that gold is worth $987m, they are taking delivery to be stored in an HSBC vault.

    Maybe others didn't miss this detail but I did and thought it was worth noting that they didn't buy gold at todays prices. They are merely one step closer to getting it out of the bankers hands.

    Now I'll throw this out there. What if, and a big IF, HSBC made a deal with UT. We'll source your 21 tonnes of gold so that you can take it to TX IF you release a statement saying we store it in our vault. This would protect UT from potential banditos who think it's in NYC and it would strengthen HSBCs "physical inventory" as well as some street-cred that it was a legitimate place to store one's gold, should others follow suit. Crazy or maybe?

  83. I just looked out the window and the sky is actually blue here in Seattle - I din't know that was possible. I will DEFINATELY not be at the computer for the rest of the day :)

  84. Just went over to Trader Dans website and couldn't help but notice the SLW chart.
    Those of you who are regulars know what I said On Friday regarding SLW two weeks from now.
    It helps to see positive things that support your contentions and DD.
    We shall see how this plays out regarding SLW.

    Couldn't help but think that HL, SSRI and PAAS are overdue. Especially HL in my opinion eventhough it is heavily shorted. Way overdue to go to $12+ IMO.

  85. @ Prize

    HSBC doesn't need street cred in NYC, it's already got it with the big boys. Back in November 2009:

    "HSBC starts gold rush as it kicks small clients out of its vaults. Hundreds of small-time gold bugs have been given notice by HSBC that they can no longer use its New York vaults to store their bullion as the bank focuses on institutional clients."

    I'm sure they had huge clients already lined up otherwise they wouldn't have kicked the small fry out. I mean, all those rich kids of the Chinese Communist Party politburo gotta store their gold somewhere outside of China!

  86. DeepPurple - forgot to say good morning, so, "Good Morning!" Been following all your comments. And now, I gotta run.... ;)

  87. If your really bored waiting for the market to open I recommend the Spitzer video.
    We're all getting screwd and they aren't...why not? Iknow, I know $$$$$$

    3 hrs. 19 mins to go

  88. The Fed are the ONLY ones still buying US bonds. This is why QE can never end, and why silver's ascent keeps getting steeper!

  89. Spitzer video at ZeroHedge that is

  90. DarkPurple

    I also am a dedicated Weekly Metals Wrap listener, but I would never suggest to anyone that they skip ahead to Trader Dan. BIll Haynes is actually my favorite part of it. Straight retail level, how much buying, how much selling, premiums, what's scarce, what's easy to get. Plus great insights about some of the other issues that the big boys talk about. Never miss it.

  91. Silver will not behave like a normal commodity due to unprecedented, historic scarcity. You can use your chartology to predict a retrace, but you will be proven wrong because once the word gets out that
    1. US govt no longer has any of the 3.5B ozs. it had in 1960
    2. JPM and HSBC short position dwarfs available silver
    3. 2.3b ozs are unrecoverable in landfills
    4. Industrial demand for the best non-conductive element in the world is at all-time high (not to mention investor demand)
    Real world, there is no room for a retrace (it is too scarce). This is a more of a gimme than the three-footer that Turd is sinking just about now.
    $43/oz is DIRT CHEAP
    Do the math:
    daily price increase x oz. owned = growth in net worth
    So what's in your wallet?

  92. Eric#1... Your right. I listened to him also.

    Everyone else should also.

  93. Li,

    I am the wrong person to ask about trading PM securities. I am not good at it.

    I trust the fundamentals. In my opinion, PSLV is a mid to long term holding and I would not trade it. If you are selling to buy physical silver to HOLD, that makes sense to me. Physical in your hand is the ultimate PM move. I would not trade the physical silver unless gold really takes off, then I would trade for gold. Hold it for the blow off top that is coming.

    Just my opinion.

  94. This comment has been removed by the author.

  95. DPH - listened on my dog walk - I am one heck of a multi-tasker. I do believe you are right about the treasury purchases by allies - I was speculating about that with the dollar too - there are times when it has been hauled off the precipice, and the pound in particular takes the hit. Aussie dollar and Canadian too. It seems obvious to my unblinkered eyes that there would be deals like that. They are in essence buying war bonds.

    Irene - yes, now I understand about the mesh - I didn't know you rinsed sprouts. Sounds too easy. Do you feed them at all? Or just straight water?

    Bringing home the bacon is really taking on a new twist.

  96. For the truly addicted among us, who are just killing time until the metals start trading again, here's a link to the archived broadcasts from KWN.

    I've been known to go back and listen to a couple of months old Weekly Metals Wraps at a time. I know... it's sad.

    First Weekly Metals Wrap is 8/21/2010, just sayin'..... :D

  97. Li.. I wouldn't trade it unless you want to go right into some physical silver.
    Let it ride a bit through the up and downs in the short term as you might just miss a strong upside move near months end. They just bought a ton (or more) literally.
    Just my opinion only.

    I'm trying to buy as much physical as my bank account and stomach can handle as this point.

    word ver was...ophead. Pretty much sum's it up

  98. R man J, nice way to end your post!!
    So what's in your wallet? Hilarious and appropriate!

  99. Torx1953 and DarkPurpleHaze:

    Thanks for sharing your valuable opinions. Do you guys remember the silver price behavior after the delivery day? I just blindly guess the Thursday would be the day for the shortis to cry. But for gurantee of the high profit, I guess Tuesday would be good for me.

    So far I have 35% profit. My IRA account will continue to ride with you guys.

  100. "They just bought a ton (or more) literally."

    Who are they?

  101. Happy Sunday All!
    I haven't been on all weekend as my life called for 1)time with the kids, 2)dirty rotten house that (still) needs cleaning, 3)errands, 4)work on my business, 4)and tornados!!! :[

    That last one was scary but I spent alot of time late last night and this afternoon just trying to catch up on the threads ..and WHEW! ...what an incredible amount of valuable information. ..First...

    We are fine! ...I actually had my kids in the bathtub downstairs and covered with pillows and quilts at one point while the storms were going over. It sounds like you fared worse than us though. No damage here.. just lots of raw nerves at the time. ..You are in a hotel??? Did your house get damaged? ..I'm assuming all your family is well? ...Parts of Raleigh were devastated as well as Sanford. I'm sure you know all of that...of course.... but I hope you are all ok ..and your property too.

    Thanks to all of you for some wonderful information from the weekend's threads. Eric....OPTIONS for you???? :O Warning: It's addictive. Or ...could it just feel that way to me because I haven't lost anything yet. Hmm. Stay tuned:)

    Kumanari, Silver Cell, Pailin, OldNavy, averagejoe ...thanks so much for all of your posts and analysis. I have learned so much from all of you over the past few days. About the forex stuff ..I actually opened up an account as Oanda for the XAG/USD thing and started trying to learn...but aborted that for learning options first.. because it seemed less complicated to me. ..Thinking of going back now and add another deminsion to my 'skills' ..but ..I am VERY cautious ..but curious still..

    So appreciate your warnings, and heads-up on key dates for possible takedowns.

    In reading your posts, I realize I think alot like you on the options trades. I have basically the same mindset when it comes to timing and how far out to go with the money and expiry. Please continue to enlighten as I'm also looking for another vehicle besides SLV ...maybe one that tracks gold predictably.. ??

    Love the t-shirt ideas. ...and as an aside, my little guy is testing for his black belt next month! ..Quite an undertaking this has been but he loves it. My daughter stopped at blue belt. She hated it. She is doing kick boxing rigth now though and she is a dancer.

    I appreciate your comments and analysis on the Kipling poem.

    I read with great interest your take on the UofT gold story. Incredible that they would have this kind of foresight/forethought in TX. ...Might be a good place to relocate if one was so inclined. Very interesting to me.

    Well.. I'll stop there! ..I left out dozens of people who I learned something from in going back over all I had missed from the weekend ...and you know who you are. ;)

    PS.. In response to the points Turd asked us to ponder on this thread are my thoughts:
    1) Overall demand and interest in silver -Is accelerating
    2) The Cartel's ability to "manage" price -Is getting noticeably more difficult
    3) Near term direction of price -Is going higher with the caveat of desperate people (cartel) usually do desperate things (double down on their efforts to squash us and our positions)
    4) The likelihood that silver is currently making a top -is admittedly something I'm not sure about. That's why I'm here for TF's and the community's great analysis & advice about this!

  102. Eric - I am a repeat listener to lots of things too. Have you listened to the presentations at the Cheviot Sound Money Conference that Prize Fighter and I were talking about? Fantastic. I will go and dig out the link for any who missed it. Good way to pass the next few hours.

  103. oops.. sorry.. I didn't realize I still had my twinkies photo up.. ..I did that the other night ..right after my bacon photo ..just trying to 'pick on' Eric & OldNavy ...heehee. ....Looks weird up there now like I'm some sorta snack cake junkie. ...Which.. I'm not sayin' I'm not.


  104. Here is the link. The presentation about monetizing silver is charming.

    Good afternoon Ginger. Glad all is well, and good luck to your son. I know how it feels, and you must be very proud.

  105. Oh!.. And how could I not mention Irene's wonderful sprouts resources!!

    Loved that Irene.. found it very helpful.. thank you. ..I bookmarked the sites and plan to grow me some sprouts!!

  106. @DPH... two things:

    1) I agree with your theory regarding UK/France buying treasuries in exchange for our Libyan involvement. It makes simple sense and lacks "tin foil hat" notions.

    2) Spitzer is the biggest criminal/hypocrite of all in my opinion and here is why: bank when he was the AG of NY and "went after" all the banks and got "big settlements" for him all in the name of "justice." Here is what he really did.

    He knew he was going to run for governor of NY and thus he had to have the support of Wall Street, but he also wanted the support of the sheeple. So, he got ridiculously low settlements from the banks when he should have pulled their banking licenses. This part won over the sheeple because "tough guy Spitzer took on Wall Street." But what he really did was innoculate the banks from future prosecution as part of the settlement and that's how he won over Wall Street... the banks paid their silly little fines (that looked huge to the sheeple) as they ran to the banks/profits, litterally.

    Spitzer is a scum bag, and not because he slept with prostitutes.

  107. I'll bet Twinkies would last forever. I believe the survived a nuclear attack in the Simpsons.

  108. XTY...War bond analogy, very nice thought.

    You mentioned Auspergers earlier. Not to get into it on here, but my son "might" also be in that boat.
    My wife (Ex now) and I noticed some differences in my son very early on vs. where my daughter was at that same age. They are roughly 18 months apart so we had a "blueprint" if you will of developmental progress and he wasn't showing it.
    We went the early intervention route thinking autism etc. ..The people we dealt with were truly a Godsend in that they didn't just label him and seperate him from the mainstream kids . Mind you we did this when he was 2-2 1/2 years old. We were observant and didn't hesitate. Lots of testing, observation and a almost
    pre-pre school type thing at that age.
    Lots of clinical judgments the whole time but never labeled and seperated and he was mainstreamed into pre-K and so forth the whole time. "Inclusion" was the program name.
    My son was unique and a bit unsocial/shy but not in a angry way or trouble making way at all. Just more quiet then my daughter and responded a bit differently. Autistic spectrum tendencies later led me to research the whole thing and I came upon Auspergers as what I thought fit.
    Long story short, he's almost 17 y.o. and the developmentally delayed little boy is now a "normal" junior in H.S. and doing very well. A veritbile math whiz and starting to give dad a hard time like I used to at that age. A good sign indeed. He's no trouble maker etc.

    My daughter is going to be 18 next week and is my little angel and always will be. I told her not to grow up too quick regarding boyfriends as any of them would have to pass the "Dad wrestling them to the ground if they try anything test" type thing. LOL!

    Where has the time gone, regarding my little one's?

    Most of what I'm doing now regarding investing in PM's etc. is for them in the long run.
    I'm not sure what type of world it will be when they are middle aged etc.
    I'm preparing for them a lot more then myself.
    You can never love them or consider them enough no matter what age they are....or how creepy they can get on you...;-)

    I know you know this also. I need to stop or I will tear up over my keyboard.

  109. xty

    Was that the one you were talking about where Max Keiser just came on at the end? yeah, a re-link would be appreciated. Thx

  110. Fortinbras...I hear you about Spitzer and I totally agree with you. Completely. I"m from NY and know all about him.
    Having said that and what he was in the past, he may just be right on this one point regardless of his past.

  111. And welcome Absorbing Jr - a Ben Gay welcome at that. Great first post.

    H - thanks for all your hard work on the spreadsheet - last chance to get those bets in folks!

  112. Ginger

    Oh, don't worry. No options account coming anytime soon. I'm more of a "Get Rich Slow" kind of guy. ;)

    Glad to hear you and yours are safe. We were starting to worry.

  113. Francisco - you are right about logarithmic charting. It does give a straight line - which is still very confirming.

  114. Please,

    Thought from any/all Turdinistas regarding "Sell in May and go away" applying to 2011?

  115. "Get Rich Slow"

    ...that's the way to stay rich.

  116. Irene,

    Thanks for sharing the information on sprouts. Much appreciated. Provided some hope for the dark days I see coming.

    May have to live off of silver eagles and sprouts some day.

  117. @ DarkPurpleHaze,

    Glad to hear that your son is doing well and that he did not receive the label as being autistic. I have been working with special needs children for the past 8 years. Hold two master degrees and will be writing my BCBA (board certified behaviour analyst) exam next year. I can tell you that labelling children has become the norm and appears to be on the rise even for those that really do not need it.
    There have been many instances where children who were just socially awkward, shy, etc at a very young age get the label of being autistic for not being "normal". Its a shame that society has been geared towards overmedicalization where normal and variable parts of everday life are now needing labels.
    With respect to Intensive Behavioural Interventions (for those with autistic children), they are only a treatment and will not provide a fix. Moreimportantly, empirical studies have shown that the maintenance of treatment gains is really short thereby showing the child needs to be consistently treated. I could get into the whole issue of what constiutes normalicy but space is limited.
    Anyway, its great to see that your son is doing well. It reminded me of my younger brother. He was "slow" as a baby and was sent to special school in the mornings. Our school system wanted to put him in special class fulltime but we all objected to it knowing that there was nothing wrong with him. He's 18 years old, got into U of T for Accounting and is aspiring to be a CA. He's also a math wiz and is quite the gentleman.

  118. The fun thing about listening to old Weekly Wraps is hearing them say stuff like "maybe we can break $25" lol. And that is not that long ago!

    Plus, especially on some of the other interviews, stuff about QE, inflation, currencies, etc are really timeless. Nothing dated about that stuff at all.

  119. Eric - the link is about ten comments up.

    DPH - we have a lot in common - I also have a daughter 18 months older than our interesting son. One more too, our miracle baby. Weighed 1 lb 12 oz at birth, speaking of tearing up. Just turned 16 and perfect in all ways. Our aspergers symptoms were/are a hard time reading other people. He is very outgoing though, like his mum was, and I don't necessarily mean that in a quiet, law abiding way. Also very smart, which I think is part of the problem. It is easier to go through life in a more unexamined way.

  120. @TF: Please don't forget your take on Thursday's Silver close !!! I've been waiting for this all week-end...

  121. DPH, FWIW I have Aspergers. Didn't see Xty's comments on it though. Let me tell you, finding out there were others who viewed the world as I did was a blessing. Just knowing I wasn't crazy allowed me to let go and trust myself. In the past 10 years, post-diagnosis, I have gone from unsure, awkward, embarrassed to a person who is confident (inwardly) and a source of advise for my friends. Most importantly was that the confidence in my differences became actionable instead of regretful. Not based on doing anything different, just knowing difference can be good.

    I have enjoyed a world of success based solely on embracing my views instead of hiding them. It sounds like your son in concert with your awareness will make the most of it ;)

  122. Only 135 minutes to go! - you made me laugh out loud. What a bunch of increasingly wealthy junkies. You the man! Speaking of which, how was golf? It pretty much rained sleet here, not that I am jealous or bitter or anything.

  123. Prize Fighter - your progression sounds like what happened with my son. He is only 18 now, but a very social guy with the same great friends for years now. They are used to him, and he is used to them. He got in to McGill and lives in his music to escape the world when necessary - in a great band for the last 4 years.

  124. And I should add, it is very nice to hear your success story. Gives me hope. I don't think it will ever be easy to be him, but at the same time neither he nor I would change him. Now, he could work on his life skills, but that will come with time. And just to share a pointless detail, but I am getting to go to Alaska on a cruise with him and his elder sister who goes to Memorial University in Newfoundland at the beginning of May when they both get back from school. I am an almost empty nester and I miss them like mad. The downside of raising confident children - off they go!

  125. Euro already down 1.441 but moving up and down so we shall see.

  126. I'm holding on to dry powder for whatever correction may come in silver. I'm thinking that in the short term gold MAY outperform silver. There just is no where to go but UP for gold. Otoh, silver could correct and it would be expected and actually should be welcomed. But if the physical shortage is as bad as reported.... supply and demand rules.

    And UofTexas best take possession. That's all I got to say about that...

  127. Xty, that's great to hear. I enjoy the company of individuals immensely but avoid crowds, noises and general chaos. It can get to where I physically cringe and put my hands over my ears. This is odd considering I too live for music and constantly have white noise around me in my home with tv or radio. I don't always listen to it but I need the murmur in the background. LOL It's a fine line.

    About 7th grade my parents took me to a shrink and had me tested. I was a horrible student but read constantly and was very active in sports and everything outdoors. Everyone was confused. I didn't understand the confusion. The test results confused them even more. I should be at the top of my class but wasn't. This was in '80 so I don't think Aspergers was high on their list of diagnosis'. After college and an increasing amount of self doubt, I took a MENSA entrance exam just to see if it was all bullshit or not. Was accepted, but didn't accept. Just wanted to know. Finally found a doc who knew what I needed to know. All good :)

  128. ILUVPMS...Thanks for your view. Your doing a wonderful thing and you will make a difference in someone's life that will be immeasurable. Good luck to you and those you touch.

    XTY...Yep, we sound alot alike. Glad to hear you have a healthy and much loved family. You sound like a great mom.

    Prize Fighter...I don't know what to say except that your probably one smart individual and that in itself can be a "unique problem", if I dare call it that. Forgive me and don't take that wrong.

    Looking at the world through a different lens and being very introspective and obviously well spoken can be looked at as being "different" by people who just aren't on the same wave length as you or my son etc.
    I tend to think he's ahead of the game of life in the observation and compassion part of it, compared to his peers at a younger age and even now a little bit.

    I pump him up for his accomplishments and try to encourage him whenever possible. He love sit and needs it. I'll never stop doing so.
    At some point he'll just kick ass and take names as far as excelling. He's already starting to.
    He has a unreal memory and can "see" things or notice things that a lot of people can't or don't even care about. Those are his strength's and he gets his keen ability to notice the little things from me ( I will take some credit for his unique talents and nature) :-)

    Just like my Dad always was always talking about "the market" to me at a early age, I have been talking to my son about my investing in PM's etc. and I can tell right now he is absorbing it and thinking it over as he see's me making money by putting money and brainpower to work. I'm showing him the basics and how the market works, or is supposed to.

    I'm pretty sure I know where this is going to end up with him (banking/investment manager?) as I will encourage him to excel at whatever he chooses to do.

    Ok...onto the market in 1 hr. 43 mins

  129. There are two things I need to say this Sunday:
    1) Our controlling tool of choice is debt. We lost control of some metals because the markets are so small a relatively few skinnied down the physical float we needed. But make no mistake - our goal is to hypothecate miner production and forward sell at much lower prices. Currency value is inverse to pm's.
    2) These blogs, including Mr. Fergerson's, are a game changer. They are keeping you informed and resistant to the capitulation needed to resume control. If the dips keep getting bought, the price can't be brought down. Only YOU can kill this bull run...


    Li wrote:
    I am going to sell 70% of my [ETF] PSLV next Tuesday.

    I believe the silver price in Thursday will [peak], then drop 5%-10% from there. What do you guys think?

    April 17, 2011 12:17 PM

    I agree that, if the price of silver continues to increase sharply, then the likelihood of a sharp, but brief, correction in late April or early May will increase greatly. Remember, folks, silver was volatile traditionally, long before the advent of the EE and its manipulative schemes. Silver is probably one of the most volatile of the metals, at least traditionally.

    -- Paul D. Bain

  131. Ok, yard work done. Chain saw cleaned and put away. Ready for GLOBEX!

  132. Paul...don't be a!

    Your right, anything is possible. If it corrects badly and then goes wildly up, so be it. I don't see that happening and I think we are not at that point yet, but you never know.

    Damn, starting to snow here just outside of Buffalo, again. G'rrr! At least it's not sticking...yet :-(

  133. 135 minutes and 135 posts. Couldn't have planned it any better. DPH, I'm in upstate NY too. I had 3 kids, was a single dad, and my middle boy has autism. He's in a group home now and truth to tell, it's one of the reasons I moved to NY (from PA) due to the services available. But I always knew the state-funded programs were a Ponzi scheme...and I still have a room ready for my middle guy. (My oldest works for the WSJ and I am so pleased that she has a good gig, I don't even mind that she works for Rupert.)

    Ol' Michael


    Ha ha ha ha

  135. xty and Dark Purple

    I'm getting a litte pissy about the weather too. We had snow yesterday! Middle of frickin April and we are still getting snow. AND, they are saying maybe an inch tonight too. Born and raised here, but sometimes Wisconsin sucks.

  136. DPH, you nailed it. Constantly being early can lead to confusion. Being right and timing it are two different things. I've used myself as a contrarian view. If I see something to be true, my work becomes the 'when?' I'm quite passionate and as I've said earlier, that makes me a bad paper trader. Physical metals allows/forces me to have patience.

    I'm not very comfortable talking about myself and don't want to hijack any more. I'll probably gnash my teeth about all this blahblah later, but wanted to chime in and let you know that your son isn't alone and knowing is nearly all the battle.

    Is it chart time yet or what?!

  137. @Turd

    The Dan Links show his understanding on how the junior miners (mostly) are more vulnerable to short-side hedge trades because of their relatively low daily trading volumes. Interestingly the Canadian symbols for many mining stocks show higher volumes than the OTC symbol For example for Impact Silver compare daily trading volumes of ISVLF.PK vs IPT-V

    One thought is to hold those junior miners with higher daily volumes – 2-3 million shares a day for example. That leaves many great companies like First Majestic, Great Panther, Almaden, Pan American Silver,Silver Wheaton ETC.

    Because this is still more of an art than a science, I also maintain as many low volume companies that I believe have strong fundamentals and will be big time gainers over the longer term

  138. My first post...

    Re: Gold and silver coin shop update -

    Last week while I was in my local coin shop selling some silver to buy gold, and before the dealer & I had even completed the transaction, another salesperson came up twice trying to take my silver off the counter and sell to another waiting customer.

    Great group here, Thanks for all you do!

  139. afrum had reason to suspect a correction not this week but next I believe. I should have written it down, but knew it was after Easter. Tuesday/Wednesday and then back up was his suggestion based on dates of expiry of different things and meetings, etc.

    I am not a trader at heart, but am beginning to get the hang of moving things if I see major swings coming. Someone above asked about the sell in May walk away theory. I am going to apply that to my 4 stodgy equities on the TSX - but not to my paper silver, or my miners, unless something even more untoward happens than the untoward things we expect.

  140. Things feel like they are about to enter another stage.... there is just too much going on in the world.

    I don't know about you guys but it has been nice living in the world as we know it, but I guess it is time to start transitioning. I don't see how these conditions get any better...

    What Oil Spill?
    What unfunded liabilities?
    What wars?
    What privatized central banks?
    What processed food causing widespread disease and malnutrition?
    What Government police state encroaching?
    What Global government emerging?
    What The fuck is going on?

    But seriously...
    I get this feeling that the term "prepare accordingly" is about to be taken to the next level, sooner than later. I hope I am wrong, but realize we must detach ourselves from the injustices we do not create or we will be dragged down with it.

    Options expiration for silver 4/26 along with the Bernanke speaking next week? We could rally this week but then be in for stagnation next week/pullback with King Doublespeak on the speakerphone.

    The tipping point feels closer than ever.

    Anyone have any good tips/links for meditation for beginners? :)

  141. Joseph Stiglitz on US rich & poor, corporations & dollar as reserve

    The new global reserve currency is being set up.

  142. Kind of along the lines of what Trader Dan is talking about, I've been watching this chart I made of the GDXJ vs Gold for a while. Would be interested in anybody's take on it. I'm kind of thinking it's ready to break to the upside (miner strength vs gold), or at a bare minimum to stay above the blue line (50 day), instead of spending any more time below it.

  143. They are pulling out all stops now, end game is near


  144. One last arrogant comment about us 'special' people - I do believe that being highly intelligent can lead to a rocky road in life. Einstein was sent home from kindergarten as he was considered unteachable. My middle guy got a 99th percentile on the PSAT (a 98th in Grade 10, so he wrote it again because he was mad at himself for not getting a good night's sleep the first time). Whole family kind of like that. Brother who got perfect on the SAT. Not to shabby myself. So yeah - math heads particularly, which none of us really is, so my hat off to you oddish math types. Okay, head shrinking, back to the game.

    Where is Turd's bet!!!!!!! 75 minutes.

  145. @Eric

    I'm not sure what trader dan is talking about. GDXJ has outperformed GDX since its inception. He is reading that chart incorrectly.

    I do agree that gdxj will begin to outperform again shortly however, especially if gold continues through $1500.

  146. ScottJ88... A rum and coke works for me some times but not that often...half kidding.

    Hold a coin in your hand and just feel the smooth, cold value in it.
    What are those stones called...worry stones or prayer stones? I can't remember, but I have a smallish, polished black creek stone on my computer desk that I don't really hold. It's just kind of cool looking. Gets held ocassionally without thinking about it.

  147. Scottj88 meditation for beginners...

    Zen Mind, Beginner's Mind

    by Shunryu Suzuki Roshi

    "In the beginner's mind there are many possibilities, but in the expert's there are few."

  148. OMG just posted what I was thinking.

    We should meet sometime. Are you my long lost sister...only kidding.
    I'm the one and only.

  149. Does anyone have any opinions about using the bullionvault prices as a guide for price movements when the markets re-open? This weekend they have gone up about $0.30 - it was the same last weekend and was quite a good indicator for prices at the open...

  150. @xty

    Thanks for the sprouts tip. I'm googling sprouts and man there's lots out there. What a great way to have greens and protein etc. Wonder how long the seeds keep if I put them away.

    Here's a link to buying:

    Turd bet 42.975

  151. Robert

    Yes, he had something a little backwards there, as far as big miners vs small miners. But all of his comments lately, on his blog and on the KWN Weekly Metals Wrap, about the weakness of miners vs the metals is what I was thinking of. And that's what my little GDXJ vs Gold chart is also looking at.

    I think that the big white candle, which I think must have been April 5, was a warning shot that the miners were ready to take off. The shorts have spent every day since then trying to bring the miners back under control, but I've got a feeling there are more big white candles to come.

  152. Thanks for that link to Trader Dan's discussion of miners, Mr Ferguson.

    Quite reassuring, actually. Sooner or later the miners are going to have to snap up powerfully I imagine.

    Now that I think about it, I kind of hope it stays this way for another month or so, just until some extra funds of mine become available and I can buy some more miners...keep at it for now hedgies...

  153. Yes xty, since I've vomited all over the thread today I may as well try to clean it up by saying my intimate relationships are complete failures. For every action, there is an equal and opposite reaction. I believe Newtonian law is as valid in emotion as physics. Examining life isn't living it. Though it was said the unexamined life isn't worth living. Sounds like something a smartass would say. I would trade my red pill for a blue pill most days. Probably a lot of us reading this

  154. Eric,

    Take your chart back two years and you will see gdxj has outperformed gold significantly since its inception.

  155. Great Britain fronts for the US Treasury.Its just cosmetics.

    PSLV is a ramped market. Two weeks ago Sprott reopened the Physical Gold Trust, the sister fund.

    Common sense argues that He has an equivalent open shelf SILVER offering already approved by the SEC, probably for the same billion dollars that was the Physical Gold Trust.

    How could the SRC have been so witlessly dumb. Because beaureaucrats are dumb perhaps, or routine Governmental arrogance. They probably thought this Canadian interloper's issue would be a mickey mouse 50 million, and a complete ZZZZZ as it affected the silver market.

    Not quite right, 580 million dollars worth of physical silver went out the window, and heavily oversubscribed and completely buggered the rigged silver market.

    God help us if , as he just did with the Physical Gold Trust, he were to come to market with another 400 million in physical silver, the bars for which were so new they were still warm from the refinery.

    So, for 50 or a 100 million jam the price to an impossible premium, 18 percent, which renders a follow on issue unsellable. Its a comparatively small price to pay compared to billions being lost on the short Comex positions. It shuts him down.Rather untidily but it does shut him down.

    My concern is the potential drift towards confiscation because these criminals are desperate. . It has happened with Gold in 1933.Bang, there you go.

    And just exactly what do you do now. You get the hell out of PSLV, that goes without saying, and go for a walk in the woods in canada. in fact you short PSLv and pick up the extra 18 percent which would evaporate instantly.

    This is a menacingly dangerous market run by increasingly desperate criminals sporting one of the worst parabolic charts I have seen in 45 years doing this.

    Now take your shots as per usual. .

    . .

  156. I was thinking about this T-shirt thing.

    Picturing a long sleeved (or short) black shirt with a collar (like a polo) and a colorfully stitched flying monkey (like a LaCoste alligator sized deal) with a Au/Ag under the monkey.
    The Au would be in gold stitch and the Ag would be silver and the / would be agreen (for profit)

    The "Disorderly to the Upside" could be I don't know what color stitching across the back of the neck in a smallish way.

    Having TF's moniker on there somehow is important also whatever that ends up being as to how he referes to his new website.
    TF must be included on there somehow.

    That would the dressier version of the shirt.
    A long black (or whatever) colored t'shirt could just be out there big and bold along the same lines or louder. TF's website on the back and the flying monkey and periodic symbols etc. where ever and a bit bigger.

    The monkey would have "X"s in the eye's like they were dead or messed up and maybe they could be sporting some flames behind them like they were going down in flames (like we all know they are).

    I wish I knew how to draw at least even a little bit. I'm not artistic in that way but other ways.

    Wish I knew a seamstress who does that embroidery locally who I could have do a prototype.
    A lot depends on what direction TF takes the new website and name etc.

    Not trying to hijack your plans TF. Just being creative and killing the next ..ohhh....56 mins.

    Damn... it's snowing harder, but still not sticking.

  157. I have a theory on why JP Morgan was able to get a vault license so quickly. You see, their vault is actually at 1 Chase Manhattan Plaza. Go google the location. Do you see what is right next to it? Mr Big Bad Fed. Do you know what lays underneath that street between the two buildings? One hell of a tunnel.

    JP Morgan is accepting gold as collateral now days instead of cash. They're moving it to the Fed in exchange for the fed's dollars that will help them cover their silver short position.

    This is a complex unwinding they are taking, but I guarantee that they are moving one hell of a lot of precious metals under that street right now.

  158. This chart of from Trader Dan seems to indicate that the ratio of large caps (GDX) to small and medium caps (GDXJ) is unusually low.

    I know one of the Sprott fund manager guys (Peter Hodson) recently was in a video saying he thinks some of the large caps are going to outperform in the near term.

    Maybe a good idea to look at some of the majors?

    The only majors I own are HMY and GFI. Any thoughts?

  159. Robert

    Agreed, but from now back to about December is what has everybody scratching their heads.

  160. Sorry here is the chart I spoke of above:

  161. B...Very interesting.
    I don't even want to know what is really going on as I don't like getting worked up unless I have to.

    word ver...mightlie....seriously

  162. @ Rick

    Thank you for the link, just caught it! Some very good points, but who is Jefferson Thomas? I agree that he has to eventually appeal outside of the Republican Party, but I think the Republican Primary could be a first good step for him before he moves on after "confirming" that he is not treated fairly. This could work to his benefit if the public could see that someone offering in depth-discussion on our fundamental problems is ignored and humiliated by the main stream media. I feel the internet will be a bigger part in all of this than it was 4 years ago, but then again we waiting for an election cycle is dis-empowering as it is. We must not play the games that the establishment plays, and be wary for any set-up that TPTB have concerning the liberty movement/freedom movement.

    While I am not sure if it will work, it is at least something to start with when trying to educate the sleeping masses. Make no mistake, Ron Paul the man is not the answer, but his philosophy sets the stage for much bigger reform. That is why I support him.

    @ Dark Purple Haze

    Already had my fun with whiskey cokes. I lived in a frat house in college and "raging" was what my college experience. Hard alcoholic drinks have the opposite affect of relaxation for me, as countless nights ended with "scholar shots." However, each man has his own vice. Thanks for the comment on the rocks/coins, I do that with my a silver coin already.

    @ Kokoo Biggs

    Thanks for the suggestion, found it online (what isn't online) and will be taking a look tonight. The information looks simple yet insightful, just what I am looking for.

  163. Wow, I completely blanked when reading the following line, doh.

    For Ron Paul to create a successful Independent run, he will need to find a promising conservative (let's call him "Jefferson Thomas").

  164. Eric,

    Gdxj has been my number one holding from its beginning. It went through a very similar phase last year and broke out very nicely. I expect along with many others here that it will do so again, and this week could very well mark that point. Morris Hubbarts superforce signals for whatever they are worth have been very accurate predicting movements of Gdxj, and he is calling for a near term move to $48. You can read his most recent free article here: 321gold Link


    I also think there is a good possility that the large caps begin to outperform the juniors due to their larger profits. Hence, GDX is my number 2 holding. But Trader Dans straddle trade of shorting the miners makes much more sense with large miners rather than juniors based on performance, hence I am still hesitant with the large caps and am not increasing holdings.

  165. This site has gold in various currencies. Never understood why, but it starts changing before anything else on a Sunday. It's moving right now!

  166. Since the market is yet to open wanted to share something that happened today.
    Went to Walmart to get emergency provisions while the wife was at a baby shower and the following happened:

    Cashier looks at my stuff on the counter , smiles and says : You're buying stuff for your emergency pile aren't you ? WOW was I surprised!
    I responded with yes and we talked about how most don't have a clue about potential exploding food prices or potential shortage of food. She stated that she has seen recently " a lot " of people who is stocking up as she knows what to look for , type of food and qty etc... A young mother was watching and listening closely to our conversation and we talked openly for a few minutes about " preparing ". Hope we had a positive impact on her that maybe she should as well.

    Eric #1 - Just so you know I bought Yoders canned bacon from and have had good luck with them.

    Hopefully more than just a few are waking up - we can only hope so.

  167. BTW - I only posted my swollen head comment because I feel I am amongst kindred spirits.

    DPH - urge resisted, and I didn't understand it anyway. I agree muchly with your t-short concept. I like the idea of flaming flying monkeys, and maybe Turd's new url could be stitched neatly on the collar. And skip the disorderly - save that for the long sleeved black t concept. Eric #1 said his sister runs a t-shirt shop so I think we are actually on to something. I have a blog I don't keep up - I am useless at some tech stuff, but maybe someone smarter could tell me how I could accept logo designs there so we could run a contest. As to my original idea I am still thinking of just a long-sleeved black t with 'Disorderly to the upside' written in silver cursive. But yes, with Turd's new url maybe across the bottom or top of the back. SImple and cheap and I could easily explain it to Eric's sister if I get Turd's blessing. Sort of like those coaches shirts you get when you coach kids - but heavy duty nice cotton, and embroidered not printed, maybe but trying to keep it to about the price of an ounce of silver. Round it up from cost and give the proceeds to our great leader.

  168. I have an XAG question.

    PLEASE HELP before open would be great

    I have to open silver positions 1500 contracts 42.357 and another 500 contracts 42.142 with the 1500 one bought first.

    If I were to sell 700 contracts my silver positions what will be eliminated?

    ex 800 contracts at 42.35 and 500 contracts at 42.14 remaining or 1300 contracts at 42.35 remaining

    Thank you for reading. And would greatly be appreciated for any response

  169. Jim G

    More Canned Bacon!!! OMG

    Veteran user or newbie?? I had a case about 3 years ago, been without for about a year, and just ordered another one.

  170. Eric#1...I've been fighting the urge all weekend to just go ahead and order that $50 Peso. I really want it.
    Maybe getting that St. Gaudens will take the edge off. Can't wait to get it.

    Maybe the next couple of weeks will be good to us and I can take some profits and just do it and not care.

  171. Thanks for the insight, Robert. Interesting point about shorting the majors. I suppose they are less susceptible huge upmoves compared to the juniors if there is short covering, and hence easier to get away with shorting...

    I do however know that RBC, I believe, recently wrote very good things about HMY and I read a while ago that John Embry likes Gold Fields:

    I listened to Gold Fields results presentation webcast and they claim to have the highest dividend among all the gold miners...

    Anyway, I'll hang on to them for a bit and see what happens.

  172. One last thing - Walmart's are getting in the Mountain House packets in the sporting goods section and the one in Ohio had a great selection. They are difficult to find on line for a reasonable cost much less shipping too.
    This store had maybe 50 - 60 packets so I bought 1/3 of it. Only one thing better than stocking up and that's buying PM's.

  173. DPH

    Yeah, I've been looking at those Mex 50 Pesos too,,,,,,,,

  174. XTY...sounds like a good idea.

    I was referring to those that shall not be spoken of yet lurk (ok, they troll) who beg for rocks to be thrown at them.

    I see everyone resisted the urge.

  175. Eric #1 - Never have tried it but I love bacon and the thought of doing without " long term " when the SHTF I couldn't take it especially when you and Ginger talked about it the other day.

  176. B - a tunnel. A certainty. They don't even bother to be subtle anymore. It is almost humourous, the stuff of fiction.

    Kookoo biggs - welcome, by the way. Nice to have you aboard.

    Eric - interesting link - I wonder who is trading? If I am reading that right, gold is up in everything but Canadian and Us dollars - so those currencies are falling and ours our rising?

  177. xty

    Actually, it's my niece's hubby. Nephew in-law? I need to give him a call and find out exactly what his connection to this t-shirt biz is. He has a regular job, but he's always talking about this t-shirt thing. Gives our kids custom shirts for Christmas etc. The artwork is pretty amazing.

    I know they have a website, but can't remember the link. Not sure if he's a sole owner, or if he's in with someone else, or if he just does some of the graphics for somebody else or what.

    I get the impression that if this t-shirt thing would just take off, he'd be really happy to quit his day job and just do the shirts full time.

  178. DPH, yes I understood - back under the bridge. And as to that peso - Eric is a dangerous man to hang around with. That will be my next order, almost for sure. I almost included it this time - in fact, I haven't got my money order, going tomorrow morning, so I could still call and add it to my order, which would probably save me on shipping. Hmnnn - the worst is, I do have cash available.

  179. AverageJoe,

    Wish I could help but have no experience trading forex. Does your platform not let you choose your accounting method? i.e. First in first out or last in last out. Can you call your broker?

    That forex leverage is some crazy shit.

  180. Thanks very much for the Trader Dan information. I still think that (as a portion of my buy-and-hold portfolio) Silver Standard (SSRI) and Yamana (AUY) may have good value as a ftn of reserves and PM prices compared to current stock price (disclaimer--I am new to this area).

    On a related note, given TF's observation of correlation b/w Oil and GOld, from Reuters:

    ""The market is overbalanced ... Our production in February was 9.125 million barrels per day (bpd), in March it was 8.292 million bpd. In April we don't know yet, probably a little higher than March. The reason I gave you these numbers is to show you that the market is oversupplied," Naimi told reporters."

    Oversupplied at over $100 oil? Is he insane?

  181. Scottj88...Pretty funny regarding the frat stuff. I just went and looked in my fridge and see some Bacardi Limon and 1 can of Pepsi. Later, during the BlackHawks game maybe.
    I don't drink much anymore.
    I prefer my moniker but thats like hens teeth and isn't happening. Ok, enough of that.

    If the inflation problem is that bad in China and their real estate bubble is starting to pop and the ZH article about gold buying over there is true, then I think the PM's will rise tonight. Maybe not right away but upwards I would think.

    Which reminds me that I haven't heard anything about the Nigerian elections this weekend. Going to check that out right now.

  182. Xty, Next week I think I'm going to go back down to the fed and take a piss on the building. :)

  183. Okay, now I've been sucked in. The sammich in my house is honey smoked bacon on Miltons 9 grain,with arugula, Kula tomatoes, sprouts and wasabi aioli. And you have never lived til you have had apple smoked bacon bits in fine chocolate bar. A friend bought this back from S.F. area (Stanford U) maybe Trader Joe's I don't know for sure as we don't have those types of stores here.

  184. Hey Turd , did ya give us your closeing price on silver? Enquireing minds want to know.

    The premiums in coin shops are are sick.4.50 for eagles,4.50 is ten percent! WTF?6 for Canadian wolfs 8 for grizzys.2 bucks for good bars

    But they are moveing product.So I cant argue. I ordered a tube of eagles from Gainsville and they wont ship until May 3rd at earliest.

  185. actually that's maple smoked bacon from costco

  186. This comment has been removed by the author.

  187. xty & DPH

    Just to drive you a little bit crazy.... ha ha

  188. Hope everyone had a great weekend. Been thinking about canned bacon which I must admit I've never eaten. OTOH I am a tinned fish fanatic.

    My family is from the east coast and I'm partial to tinned fish, although not sardines so much. Have a good supply and we'll see if my kids finally let me eat it without complaining I stink the place up when it's the only food going.

    I'll give bacon tray but here's a bonus for fish.

    When TSHTF I get to say as the dolphins said (escaping the doomed planet):

    So Long, And Thanks For All the Fish

  189. B...LMAO! Take a pic of the wet building!

    Nigeria's President
    Heads for Re-election
    After a largely peaceful day of voting, Nigeria's incumbent president Goodluck Jonathan was closing in on victory despite a strong challenge from former military ruler Muhammadu Buhari
    Sounds pretty peaceful so far as long as it's not a disputed vote but a former military ruler could be trouble either way.
    Hope not.

  190. Bacon IN chocolate? That seems obscene - but possible the ultimate survival food on a cold canoe trip.

    That sandwich has me drooling. Everything on it I love. Ten minutes and counting.

    averagejoe - phone them.