This Is Fun

Just a little extra snippet from my field trip last week.

I met this guy named Luke who runs a site called We Are Change (http://wearechange.org). He's a hard-working guy who's doing his best to affect some sort of change and he deserves support.

He asked if we could visit for a few minutes and I happily obliged. There's nothing particularly new or earth-shattering here for longtime Turdites. Regardless, I thought you might get a kick out of some NYC Turd.

 

TF

172 Comments

ZILVERMAN's picture

FIRST

FIRST

Mr. Fix's picture

A new disguise:

Lots of people walk around New York City, famous people, and put on a hat and glasses, just that so they won't be recognized.

You just take your hat and glasses off, and blend right in with the crowd.

It's good to see you so close to my home,  I wander through Manhattan a lot.smiley

(Second)

SlobberingBull's picture

THURD

Yay me.

SRSrocco's picture

BAR & COIN DEMAND... BIG SQUEEZE ON GOLD PRODUCTION

I was looking over some of the data and it was surprising just how much more Gold Bar & Coin Demand has increased compared to world gold production since 2001.

BAR & COIN INVESTMENT: The Big Squeeze on Global Gold Production

ReachWest's picture

Thumbs Up

Good stuff Turd - right on point. The time we are being given to continue preparations is a gift.

Chibster's picture

Best video yet!  Awesome job

Best video yet!  Awesome job Turd.  

I have a difficult time dealing with the Fed possible taper.  Taper would crash both the market and crash metals yes?  Not a good scenario?

Urban Roman's picture

Good Interview

You sound like Nicole Foss. 

And that's a high compliment. 

Nana's picture

Awesome Pairing

Luke and Mr T......

flyinkel's picture

Please file in the back of your mind for threat preps

TF, great interview!  Can I add to the prep thought?

**Applies if you threaten a major income stream, are a whistle blower, or a major threat to power (outspoken Tea Party, Libertarian, Ron/Rand Paul, Constitution supporters), otherwise SKIP.

Mental Preparedness

"You don’t have to have done anything wrong. You simply have to eventually fall under suspicion from somebody, even by a wrong call, and then they can use the system to go back in time and scrutinize every decision you’ve ever made, every friend you’ve ever discussed something with, and attack you on that basis, to sort of derive suspicion from an innocent life and paint anyone in the context of a wrongdoer."- Edward Snowden.  This is not a concept, this is concrete.

The next action is provoking you into looking like a criminal, i.e. "running away", or getting you scared so you overreact and harm yourself.  This post is for the latter.

Please do not let these folks become your judge, jury and executioner.

2  common tactics

1) Drive up next to target, as target slows, you slow, as target speeds up you speed up, then gradually drift into their lane pushing them to the shoulder.  This is especially effective in rain, snow, or ice as the target generally moves far right onto unsafe surfaces and whoops!

Correct action, firmly maintain your lane and your space.  Very light tap on horn then grasp wheel again firmly with both hands, smile, as if to say "oh, I'm sure you didn't see me here".  Remember, they don't want to take back a car with scrapes that definitively puts THEM at the accident sight.

2) Drive up on target with 3 cars/trucks/SUVs and box in target, have seen on freeway/highway environment.  Gives target overwhelmingly instant sense of futility in any action.  This is not correct, YOU do have power.  Again, they don't want to take back cars with scrapes.  GENTLY take foot off gas and slow.  Continue gently slowing no matter how close on your tail they are.  Do not stomp on brakes.  They may get to 18"-36" off your bumper on the freeway, remember they have training do this, and they are hyper aware when they are making this maneuver.  If you have a passenger have them call 911 and also write down license plates.  If you don't have a passenger continue gently slowing as this allows other cars to catch up and witness the event which puts them on report.  Eventually they will drive away because they don't want to draw too much attention.  This is a scare tactic that is highly effective at shutting a target up.  Expect police to have a "yeah right" attitude as they will have already been told you are a "creditable threat".

If you run for office, I have seen them hire folks to follow you 24/7 with a camera.  Their intent is harassment under the guise of "news", to provoke you into an angry outburst and then publish this.  PM me if you want items to consider for this particular instance.

Many have said both parties are bought, I agree, and have seen this definitively at the very top of one party.

Turd Ferguson's picture

Re "taper"

MODERATOR

Been discussing this quite a bit in the daily podcasts.

The Bernank will announce a taper, maybe $10B/month, totally insignificant. He can do this because the federal deficit for fiscal 2013, which ends 9/30, will come in around $720B. 

While that's all well and good, it's just a ruse and done for appearances. The Bernank will soon ride off into the sunset. His self-proclaimed legacy will be that he "saved the world in 2008" and then, as he was leaving, he "started The Fed down the road to taper and finish QE."

WHEN QE∞ continues and is eventually increased back to $85B and beyond, he'll be able to claim that it wasn't his fault. He'll claim that he had set The Fed on a neutral path. "It's that damn Summers or Yellen or whomever who's at fault". THEY are the ones who ruined the country with unlimited and infinite QE, not him.

Turd Ferguson's picture

Re prepping

MODERATOR

Don't forget to visit the Prep Store today! wink

http://www.tfmetalsreport.com/preparation-store

glimas's picture

08 caught the Turd

Turd I am shocked, 2008 caught you by surprise? Huh, BTW nice interview I enjoyed hearing what most here already know.  Not insulting anyone here relax (da trolls are only here for a little gob free money).  I remember the fall in 08 well, my better half started to semi panic out in the field back at camp.  I  just told her to relax I had prepared us as best could.  Just told her to enjoy her last elk hunt and concentrate on harvesting and filling her tag. 

What caught me by surprise was PM's went down and stayed down for a longer time frame than expected.  Ben printed 16T and then swapped another 10T with the euro to prop this show up.  Now we are 5 yrs down the road another dozen hunts under our belts and fantasy land is alive and not so well in the USSA.

When this blows it is going to be spectacular, God help us!

Turd Ferguson's picture

This is remarkable...

MODERATOR

...for two reasons.

First, the interview with the guy who completely backs up the claims first made here over a year ago that London metal was being sent to Switzerland and refined into kilo bars for China. http://www.tfmetalsreport.com/blog/3924/gonefor-good

Here's the segment from Koos' link:

"We talked to the head of the largest refinery in Switzerland and he told us directly that all that metal that's coming out of London (904 tons YTD) is being refined into kilo bars and send to China, as well as metal that's coming in from other areas in the world, that's all going to China. It's way more than is being reported or moved through the exchanges. All the kilo bars go to the Chinese people but the PBOC is likely only buying good delivery."

And here's the link to the entire post. Be sure to scroll down and review the Burns memo from 1975.

http://koosjansen.blogspot.nl/2013/09/alex-stanczyk-there-is-way-more-gold.html

foggyroad's picture

Thanks TF

"And wise man shall hear and increase in learning, and a man of understanding shall attain unto wise counsels,"

Proverbs 1:5  (1599 GNV)

DeaconBenjamin's picture

NSA shares raw intelligence including Americans data with Israel

Israeli and American flags
The agreement for the US to provide raw intelligence data to Israel was reached in principle in March 2009, the document shows. Photograph: James Emery

The National Security Agency routinely shares raw intelligence data with Israel without first sifting it to remove information about US citizens, a top-secret document provided to the Guardian by whistleblower Edward Snowden reveals.  Details of the intelligence-sharing agreement are laid out in a memorandum of understanding between the NSA and its Israeli counterpart that shows the US government handed over intercepted communications likely to contain phone calls and emails of American citizens. The agreement places no legally binding limits on the use of the data by the Israelis.

The disclosure that the NSA agreed to provide raw intelligence data to a foreign country contrasts with assurances from the Obama administration that there are rigorous safeguards to protect the privacy of US citizens caught in the dragnet. The intelligence community calls this process "minimization", but the memorandum makes clear that the information shared with the Israelis would be in its pre-minimized state.  The deal was reached in principle in March 2009, according to the undated memorandum, which lays out the ground rules for the intelligence sharing.

The five-page memorandum, termed an agreement between the US and Israeli intelligence agencies "pertaining to the protection of US persons", repeatedly stresses the constitutional rights of Americans to privacy and the need for Israeli intelligence staff to respect these rights.

But this is undermined by the disclosure that Israel is allowed to receive "raw Sigint" – signal intelligence. The memorandum says: "Raw Sigint includes, but is not limited to, unevaluated and unminimized transcripts, gists, facsimiles, telex, voice and Digital Network Intelligence metadata and content."

http://www.theguardian.com/world/2013/sep/11/nsa-americans-personal-data-israel-documents

DeaconBenjamin's picture

Don't use currency notes for making garlands: Reserve Bank India

MUMBAI: Making garlands of currency notes, a practice followed in Indian marriages and political rallies, has been sought to be discouraged by the Reserve Bank.

"The Reserve Bank of India has appealed to members of public not to use banknotes for making garlands, decorating pandals and places of worship or for showering on personalities in social events, etc," an RBI release said today.  Such actions, it said, deface the banknotes and shorten their life.  "...banknotes should be respected as they are a symbol of the Sovereign and public should not misuse them, and help in increasing the life of banknotes," the RBI added.

The Reserve Bank also stated that it has been taking all measures to supply clean banknotes across the country and urged the members of public to contribute their mite to its efforts in pursuing a "clean note policy" for the country.  In past too, the RBI had made a similar appeal. There is no specific provision under the Banking Regulation Act, 1949, or under RBI Act, 1934 to check or prevent such misuse of currency notes.

http://economictimes.indiatimes.com/news/economy/policy/dont-use-currency-notes-for-making-garlands-rbi/articleshow/22487085.cms

Translation:  Stop treating our banknotes as trash.  People will begin to catch on that they have no value!

Turd Ferguson's picture

Jesse's latest chart

MODERATOR

DeaconBenjamin's picture

Gold most lucrative

Gold most lucrative instrument of August [Turkey]

ANKARA

Gold was the most lucrative financial instrument in August, gaining more than 7 percent for investors in Turkey.

According to data released by the Turkish Statistical Institute (TÜİK) Sept.11, gold yielded 7.31 percent in August, surpassing all other financial tools.

All other tools also increased in value, albeit at lower rates.

Euro investors earned 3.79 percent from investing in the eurozone currency, while the stock exchange brought 3.65 percent more income.

Dollar ‘safe to save’

Meanwhile, the U.S. dollar, which rallied through the month due to expectations the U.S. Federal Reserve will opt to taper its monetary stimulus program following a meeting on Sept. 17-18, yielded 1.71 percent in August.

http://www.hurriyetdailynews.com/gold-most-lucrative-instrument-of-august.aspx?pageID=238&nID=54298&NewsCatID=344

DeaconBenjamin's picture

‘Composed of Cypriots and also… Russians’

At their AGM on September 10, the shareholders of the Bank of Cyprus (BoC), which is the island’s largest bank, elected a new board of directors with a high proportion of non-Cypriots.

Politis reports that six Russians and Ukrainians have been appointed to the 16-member board to reflect the high proportion of Russian and Ukrainian BoC customers.

The renewal of the board of directors was one of the conditions in the agreement to clean up and recapitalise the bank, which imposed a levy of 47.5 per cent on deposits of more than €100,000, in the wake of the banking crisis earlier this year.

The newspaper reports that the BoC’s new board will take office once it has been approved by the Central Bank of Cyprus.

http://www.presseurop.eu/en/content/news-brief/4133731-composed-cypriots-and-also-russians

DeaconBenjamin's picture

Global Dollar Replacement Is Taking Place Before Our Very Eyes

One of the most significant financial events is taking place before our very eyes, and yet not many are paying attention to it, says Louis Gave, CEO of the well-respected GaveKal Research.

After the Lehman collapse in 2008, firms around the world suddenly canceled orders to China, causing Chinese exports to collapse by 30%. With the US dollar acting as the world’s reserve currency, greasing the gears of international trade, suddenly those dollars became scarce as the US banking system paralyzed credit around the globe. This led China to ask, “Why should badly managed banks in the US affect our trade with other countries?”

Not wanting to suffer the same consequences again, China has since responded by conducting trade agreements with its partners to trade not in the world’s reserve currency, the US dollar, but with its own currency: the renminbi. As a result, “In the past five years, China has moved from 0% renminbi and 100% US dollars to, now, 18% denominated in renminbi. That’s a massive, massive change,” says Gave.

“The internationalization of the renminbi, the creation of the RMB bond market, is one of the most important financial developments of the past decade,” he says.

One to way to understand this major shift taking place is to compare it to what happened in the 1970s. “If you look at Europe in the 40’s, 50’s, and 60’s,” Gave says, “Europe was very much a US dollar zone—everybody worked in dollars, everybody saved in dollars, everybody traded in dollars. And then of course the US started to debase their currency between Johnson’s Great Society and the Vietnam War. The Europeans complained and told the Americans, ‘You guys are printing too much,’ to which Treasury Secretary Connelly told the Europeans, ‘Hey, the US dollar is our currency and your problem.’ So the Europeans said, ‘Fine, we get the message. If that’s the case, we’re moving our trade to the deutschmark. And we’re moving our savings into deutschmark.’ And over ten years that’s what happened. Here, you’re having the same story again. The US with their QE policies have told the rest of the world, ‘The US dollar is our currency and your problem.’ And the emerging markets are responding not by adopting the deutschmark this time, since it no longer exists, but by adopting the renminbi instead.”

Does this mean the US dollar is doomed? Quite the opposite. Instead, Louis lists a number of structural headwinds for the Chinese economy that may slow internationalization of the renminbi over time. The US, on the other hand, faces a falling trade deficit, manufacturing boom, and a revolution in automation and robotics, all of which bode well for the dollar in the foreseeable future. In light of these factors, Louis says the process of replacing the US dollar in global trade will be a slow and gradual process, but one that global investors need to take seriously.

http://www.financialsense.com/contributors/louis-vincent-gave/most-important-financial-developments-taking-place

Bollocks's picture

Snowden latest ....

NSA shares raw intelligence including Americans' data with Israel

• Secret deal places no legal limits on use of data by Israelis
• Only official US government communications protected
• Agency insists it complies with rules governing privacy
• Read the NSA and Israel's 'memorandum of understanding'

Israeli and American flags

The National Security Agency routinely shares raw intelligence data with Israel without first sifting it to remove information about US citizens, a top-secret document provided to the Guardian by whistleblower Edward Snowden reveals.

Details of the intelligence-sharing agreement are laid out in a memorandum of understanding between the NSA and its Israeli counterpart that shows the US government handed over intercepted communications likely to contain phone calls and emails of American citizens. The agreement places no legally binding limits on the use of the data by the Israelis.

The disclosure that the NSA agreed to provide raw intelligence data to a foreign country contrasts with assurances from the Obama administration that there are rigorous safeguards to protect the privacy of US citizens caught in the dragnet. The intelligence community calls this process "minimization", but the memorandum makes clear that the information shared with the Israelis would be in its pre-minimized state.

More: http://www.theguardian.com/world/2013/sep/11/nsa-americans-personal-data-israel-documents

foggyroad's picture

Trade deficit falling

Posted above by DeaconBenjamin

Does this mean the US dollar is doomed? Quite the opposite. Instead, Louis lists a number of structural headwinds for the Chinese economy that may slow internationalization of the renminbi over time. The US, on the other hand, faces a falling trade deficit, manufacturing boom, and a revolution in automation and robotics, all of which bode well for the dollar in the foreseeable future. In light of these factors, Louis says the process of replacing the US dollar in global trade will be a slow and gradual process, but one that global investors need to take seriously.

http://www.financialsense.com/contributors/louis-vincent-gave/most-important-financial-developments-taking-place

Do any of the Sharp tacks know to what Louis is referring?

help please.

++++++++++++++++++++++++++++++++++++++++++

Does anyone else pine for the days, when you could shoot the shit with your sister on the phone, without Lord knows how many government officials lined up listening to your childhood stories.

I wish Dad were still alive, He would invite them over to the house for the 'vacation picks slide show.

The two hour one,  with six different slide views of the same 'Big Nickel', in most scenic Sudbury, 'Home of the Big Nickel', there was groaning a plenty, that would teach them!

For the uninformed, slide projectors where used to torment family and neighbours for hours on end, to the glee of Dads

everywhere, long lulls due to technical difficulties, stuck slides and jammed pusher/puller mechanisms, attendance firmly

enforced, via bushy eyebrowed steely glares at lowered heads and twitchy feet and lots of hand sitting.

Sighs and moans stifled, for fear of the 'cuff in ear'  verbal threat.

It's an  obligatory Dad thing.

God bless.

ps. TF , yes definitely a 'Face for Radio'.

Strongsidejedi's picture

RT report regarding US NSA agreement with Israel

http://rt.com/news/nsa-shares-data-israel-723/

Includes the actual document.

So, I guess RT is telegraphing Mr. Putin's disdain for the hypocrisy in US foreign policy?

tyberious's picture

NSA shares raw intelligence including Americans' data with Israe

TREASON!!!!!

zman's picture

Deficit

"federal deficit for fiscal year 2013, which ends 9/30, will come in around $720 B."

So my question is, if things are getting worse, why did the deficit get smaller?  This is not bullish news for the PM sector in my opinion, in fact if we asked most PM bulls last year what the deficit would be for 2013, most would say at least $1-1.2 trillion, so we were wrong.

The federal deficit as a % of GDP is going DOWN, this is not what everyone in our sector thought would happen, this is why PM's have been in a long bear market.

What will the deficit be for fiscal 2014?  $500 billion or $1 trillion?  If the economy grows next year (like many expect), it could be the same or even lower, and QE would have no problem buying the new supply.

Either way, I don't think the deficit or the QE program will make much difference for PM prices, this sector needs the fear of potential inflation, the only way we get inflation is if the velocity of money increases to a large degree, what will increase the velocity of money?    I have no idea, I don't think it's very likely.

1wileyz's picture

Great!

That was great, TF!

Just wondering....where's your big yellow hat?

Turd Ferguson's picture

The deficit came in less than

MODERATOR

The deficit came in less than expected for three reasons that won't effect fiscal 2014:

  1. Extra tax revenue from cap gains changes that forced cap gains capture and taxation this year. Also, rates in general went up across the board in 2013.
  2. "Dividends" from FannieMae and FreddieMac. This is a con and ponzi.
  3. Sequestration actually reduced spending growth a little.
Response to: Deficit
Bugzy's picture

Good question zman

I too am wondering if we are really "recovering" or is it all very good bull? So many mixed messages. PE ratios are silly, tax money into US gov is DOWN, thoughts of taper and yields going up too quickly, mortgage application down.

Yet, housing market going up (fed buying MBS?). Stock market galloping along, Some areas in USA doing quite well. Jim blah blah blah is quite bullish too. Used to be a doomer, is he now just talking his book or is this for real. Whose bias am I suffering from? Japan is a basket case, everyone is debted to the max and real wages decline and jobs are less and proper jobs are non existent. Southern Europe is in deep do do. Poland just confiscated pensions. Banks not giving folk their Gold. Germany not getting its Gold. Everyone is lined up to be Cyprussed. Gold running out of supply. Oil going up - inflation everywhere. War coming. If USA manufacturing is up, where is the new employment? Where is the tax revenue, who is buying this stuff? Argentina, on its knees, Indian currency shot to death. Brazil going bonkers.

Yet all is getting better? Stop the ride I need to feel solid ground for a bit.

Point to note however - have they re jigged the GDP figures yet? They were going to increase it, if so then the debt to GDP will look smaller, even if it does not change. If you get my drift.

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