TF Metals Report

Turd Ferguson is NOT a soothsayer, a psychic or a witch. After all these years, he simply has a decent handle on the gold and silver markets.

[TF Metals Report @TFMetals]

Here's a link to this year's macrocast. If you're interested in following the precious metals in 2026, please take time to look this over and then join us at TFMR!
https://t.co/aAhupp3QxX

[Richard Christopher Whalen @rcwhalen]

"One of the reasons why we are so bullish on the prospects for gold and other hard commodities is that neither American political party is able to address inflation or its root causes, namely deficit spending and the related growth in aggregate demand. Add to this general factor of inflation the periodic need to bail out the government bond market and it is a wonder that the reported levels of price increase are still under 4%." | https://t.co/KMtiawGNjp

[Tom Elliott @tomselliott]

BREAKING: The Constitutionality Index has now scored every law in the history of the United States. 48,000 laws dating back to 1789.

So far as I'm aware, I'm the first one to ever attempt such a thing.

And we've now ranked every president based on the percentage of laws they enacted were constitutional. The results largely track the overall historical trend: As we move from the founding to the modern era, the percentage of unconstitutional legislation increases.

In fact, 1937 is the tipping point. Pre-FDR's New Deal, every president — Federalist, Whig, Republican, Democrat — scores 98 to 100%. After the New Deal, the average percentage of constitutional laws (by page) drops to 31 percent.

As a result, presidents of the last few decades find themselves at the bottom of the rankings. @JoeBiden is officially the least constitutional president, although Trump isn't far behind. Only Thomas Jefferson scored a perfect 100 percent.

I've also scored congresses, & @SpeakerJohnson's current Congress is, from the perspective of the Constitution, the worst Congress in American history. Constitutional legislation stands at 56.3 by total count, & just 4.3% by total legislative pages.

Another important finding: The largest laws in American history are, every one of them, unconstitutional.

Check it out & let me know what you think. (Links below)

[Nicolas Hulscher, MPH @NicHulscher]

🚨BREAKING: Reports of serious injuries and disabilities with Moderna’s new mRNA flu shot have begun to FLOOD the CDC’s Vaccine Adverse Event Reporting System.

Among them are accounts of sudden inability to walk, partial vision loss, cardiac arrhythmias, fainting, and hospitalization.

This hazardous gene therapy should NEVER have been approved.

Here some of the most concerning cases:

71-year-old woman: Reportedly lost the use of her legs following vaccination.

71-year-old man: Unable to stand or walk approximately 17 hours after vaccination. Remained on the floor for about an hour.

74-year-old woman: Partial vision loss in both eyes, severe headache, fever, and weakness.

78-year-old man: Severe tremors and involuntary movements affecting his arms and body.

74-year-old man: Severe dizziness, confusion, and difficulty walking steadily.

73-year-old man: Severe vertigo and vomiting, forcing him to stop approximately every 100 feet while walking home.

72-year-old man: Developed atrial fibrillation, subsequently confirmed by ECG.

71-year-old man: Collapsed after dizziness, visual disturbances, and breathing difficulty. Blood pressure fell to 72/46 mmHg.

58-year-old woman: Lost consciousness, experienced irregular heartbeats, breathing difficulties, and repeated near-fainting episodes.

69-year-old man: Reportedly fainted THREE TIMES, accompanied by chills, sweating, and dry heaving.

89-year-old woman: Fainted and fell inside a pharmacy shortly after vaccination. Transported to the emergency department.

Elderly patient: HOSPITALIZED with decreased oxygen saturation and fever.

76-year-old man: Hallucination-like episodes, fever, severe malaise, and disturbed sleep.

55-year-old man: Pronounced swelling of the upper lip.

61-year-old patient: Lost consciousness, experienced high fever for two days, and developed a headache.

56-year-old woman: Unable to get out of bed for 36 HOURS because of fever, widespread pain, fatigue, and dehydration.

50-year-old woman: Fever reaching 102.8°F and severe arm pain preventing her from raising her arms overhead.

These are among 78 VAERS reports involving mFLUSIVA in the October 30, 2026 data release.

VAERS only captures less than 1% of actual adverse events, according to the Harvard-Lazarus study.

Our peer-reviewed reanalysis of FDA clinical trial data had already identified 6 TIMES the risk of severe Grade 3 systemic reactions compared with conventional flu shots.

Thus, it's no surprise that large numbers of serious injuries and disabilities have begun to pour in.

I call for IMMEDIATE MARKET REMOVAL of Moderna's mFLUSIVA to protect innocent civilians from disability and death.

[Baloo E. Shum @ShumBaloo]

Armistice Day
One battalion in 1914
And in 1918
Those who survived

[Grant Williams @ttmygh]

Lest we forget

[TF Metals Report @TFMetals]

The sinking of the SS United States will create the world's largest artificial reef. Looks like it might begin to sink by about 3:30 ET. Of course, the metaphor writes itself regarding the sinking of a ship names United States...
https://t.co/bDzN6dK8X8

[THIERRY D "ardéchois et français" @ThierryTout]

DOCUMENT SUR 1914-18
Un an après la fin de la Première Guerre mondiale, le pilote français Jacques Trolley de Prévaux a piloté un dirigeable au dessus des champs de bataille dévastés en France.
Voici ce qu'il a vu, ici en version remasterisée en couleur.🧐
(🎥@BowesChay)

[Eric Yeung 👍🚀🌕 @KingKong9888]

Ignore the noise out there. My whole thesis is that China is trying to build a parallel system to the US Treasuries collateral system, using international physical gold from countries around the world as collateral.

This is a huge new use case for gold. Instead of gold sitting idle in sovereign central bank vaults, and instead of sovereigns being forced to swap or sell the gold whenever they need FX liquidity, central banks would be able to access FX liquidity by posting their physical #Gold as HQLA collateral at gold hubs like Hong Kong, Singapore, and potentially London.

Even if the gold is rehypothecated several times at the dealer level, the leverage is greatly reduced compared with the 400:1 legacy LBMA paper gold market.

Going forward, gold will first have to be repriced higher so there is enough of it to serve as global collateral. It will also have persistent upside because central banks will need to accumulate more gold as collateral as their economies expand over time.

#Gold #Silver

[Peter Spina ⚒ GoldSeek | SilverSeek @goldseek]

Why do Westerners on average hold nearly 0% precious metals?

An education issue…

[Olivier Varlan @VarlanOlivier]

Comme chaque année pour le #11novembre, je remets cette excellente animation du front de l’ouest pendant la Première Guerre mondiale par https://t.co/VKUoBwTSIq :

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Global central banks bought +321 tonnes of gold in Q3 2026, their largest quarterly purchase since Q4 2024.

This also marks their 5th-largest quarterly purchase on record.

Central bank gold purchases were up +8% from +296 tonnes acquired in Q2 2026 and up +453% from Q1 2026.

By comparison, the 5-year quarterly average stands at +227 tonnes.

China and Poland led Q3 demand, adding +63 tonnes and +40 tonnes, respectively.

Year-to-date, global central banks have purchased +675 tonnes of gold, up +6% from the same period in 2025.

Central banks are aggressively buying the dip in gold.

[maneco64 @maneco1964]

A must-read.

[TF Metals Report @TFMetals]

@jimiuorio Glad to help, Jim.

[Jordan Roy-Byrne CMT, MFTA ⛏⛏ @TheDailyGold]

GDX advance/decline line is showing a positive divergence. It made a higher low in recent weeks as GDX made a lower low.

The A/D line is a cumulative total of advancing stocks minus declining stocks each day. It measures participation.

When a market/sector makes a lower low but the A/D line holds above its prior low, it’s a bullish divergence. It suggests the decline is narrowing and underlying breadth is improving, which is potential bottoming signal.

[Charlie Bilello @charliebilello]

The most absurd number in CPI? According to the US Government, the cost of health insurance has declined 35% over the last 4 years...

[Dylan Ratigan @DylanRatigan]

When you pass a law that requires everybody to buy health insurance without Reforming, the private health insurance Monopoly you make health insurance wildly rich while destroying the personal economics of almost everyone in the country.

[E.J. Antoni, Ph.D. @RealEJAntoni]

The things that are most unaffordable for young Americans are health care, housing, and school - which are exactly the sectors w/ the most gov't involvement and regulation; meanwhile, sectors w/ little to no gov't involvement have seen massive price drops:

[Simon Mikhailovich @S_Mikhailovich]

Any fact requiring an explanation of why it isn't negative, isn't positive.

A Fed note explaining why most gold reserve relocations from the NY Fed aren't negative for the USD.
https://t.co/mj0hvkVwtB

[Kai Hoffmann @JrMiningGuy]

Craig Hemke: Why He Sees $8,000 Gold Within Five Years

@TFMetals sees gold potentially reaching $8,000 within five years, but he’s worried about what comes next for silver.
Full Interview: https://t.co/t9RMaxVv0e

[Mary Talley Bowden MD @MaryBowdenMD]

Remember when the cashier at CVS is trying to jab you with a shot, it's all about the money. Remember also that this cashier has no medical training and will be nowhere to be found when you have an adverse reaction.