Let me tell you a story...

Where are we today? China’s stock market is unstable. Greece is close to default. The negotiating has stopped. Russia and the US are having a stare down over Ukraine. Kerry has a mysterious “bike accident” for daring to try to make peace. I bet someone cut his brake cables! Wait, maybe he was shot. We’ll never know for sure in this life.  France and Belgium have frozen Russian Assets, managing to piss off Putin, and metals are trading flat after a two day short squeeze. I trust there is more squeezing to come after we get past options expiration in GLD and SLV. Yesterday’s pullback in silver made perfect sense after looking at the “sweet spot” in options—causing the most SLV contracts to close worthless as possible. The futures options have a bit more time before we see them gravitate to the sweet spot. Perhaps our squeeze will be completed by then.

Well enough about markets. Trade wisely (if you are trading) and keep stacking. Now, about that story.

Some years ago, when my kids were young and bouncy, we took a drive with another family in a big van to another town, with their three kids and ours. The five kids (8, 9, 11, 12 & 13) were restless. So I tried an experiment. I began telling them a story. They all tuned in immediately. I opened the story in a standard fashion and then my ornery side appeared. I described how I got our of bed, put on my socks, felt a burr in one and took it off. Removed the burr and put the sock on. The story was utterly boring. I raised the stakes and began adding detail about how I tied my shoes. After 5 minutes, I was still sitting on the bed tying my shoes, but all kids were still tuned in. The mother of three of the boys, an English teacher, began chuckling. She had been listening and quickly saw through my ruse. I was just seeing how long I could hold the kid’s attention with a totally pointless story. We were both amazed. The kids begged me to continue.

People love stories. Kids build their world around stories. Humans are hard-wired to connect with stories. Want to recapture an audience’s attention during a speech, lecture or sermon? Just launch into a story and watch those drowsy eyes come to life and the heads turn your way. But stories serve a more important cultural function than simply entertainment. They bear the culture to the next generation and continually remind members of how to live their lives. But stories have evolved. In older times, stories were embedded in music, with meter and rhyme to help the mind remember. Bards travelled the countryside singing ballads about heroes and villains of the past and the results of their actions. Andrew Fletcher, a Scottish patriot in 1704 said it first: "If I were permitted to write all the ballads I need not care who makes the laws of the nation." (Aha! Not only was he a banker, Rothchild was a plagiarist!)

A modern media theorist, George Gerbner, founder of the Annenberg school of Communication, has spent the latter half of his career trying to remind us of Fletcher’s thesis, putting a modern twist on it. Gerbner teaches that “whoever tells most of the stories to most of the people most of the time has effectively assumed the cultural role of parent and school.” But it is no longer ballads that do the teaching, it is Television. Most of Gerbner’s groundbreaking research was performed in the 70-80s. Clearly the internet is displacing television, although the internet is beginning to look a lot more like TV these days than the virtual books and magazines of its early days. Calling this new teacher the mainstream media seems fair enough.

Gerbner explains that, "We live in a world that is erected by the stories we tell . . . These stories say this is how life works. These are the people who win; these are the people who lose; these are the kinds of people who are villains.” He goes on: "The stories are told not by parents, not by the school, not by the church, not by the community or tribe and in some cases not even by the native country but by a relatively small and shrinking group of global conglomerates with something to sell.” Gerbner should have gone further. These corporate interests, as we are learning are controlled by an even smaller population of major stockholders who set policies and agendas. Some call them the Bilderbergers, others call them the illuminati, the elites, the billionaire’s club—take your pick. Perhaps there are multiple factions in competition? But the fact is Western media are controlled by five corporations now. Their news coverage and agendas are strongly congruent.

Gerbner coined the term “cultivation theory” to describe this cultural shaping mechanism that is our media. The metaphor is apt. Just as a farmer cultivates a crop by preparing the soil, then tending the young plants until they bear fruit, our mainstream media cultivates the soil in which our children are planted, then prunes and shapes their beliefs as they mature into adults. As the bible teaches us, “train a child in the way he should go and in the end he will not depart from it.” The media gradually and steadily cultivates our beliefs and values in the direction of what we read and watch. Yes, there is some reciprocal influence in that producers serve up what the public wants to see, but the media decision makers are the agent. The viewers are largely passive, choosing from a small selection that is set before them each day.

Media research has consistently drifted toward studying the news media. That is where the central action is. Media entertainment products seem to be subordinated to the news in their power to cultivate us. They often work hand in hand. The news tell us real stories about violence. The movies and weekly programs show graphically how such typical murders occur.

Two other theories of how the media shape us have come to prominence. First is what we call gatekeeping theory, where media editors make editorial decisions about what content goes public and what gets rejected. A couple of years ago, a CNN journalist quit and went public, complaining that her editors would not run the stories she worked very hard on because it made the US military and state department look foolish with their middle East policies. Earlier this year, I tried to look up the stories about her with no luck. They had been scrubbed—an even darker facet of gatekeeping. It used to be that a despot would send out minions to gather all the banned books and burn them—quite an undertaking. Today, just a few clicks by the tech crew and stories are gone forever.

Edit: Nick Elway found and linked an article below about Amber Lyon, the scrubbed journalist. Many thanks Nick. God I love this place.

It’s not just what is in or out of the news that is important, we have to consider the frequency of stories told. When the news media highlights a story with frequent and prominent coverage, the audience will consider it more important. What power. But surely those in control are benevolent and would never exploit this power for their own ends. Surely the news media serves the public, no?  Researchers have found a 90% correlation with what the news says was important and what viewers identified was important. McCombs and Shaw articulate the idea of agenda setting theory to describe the process. They teach that “The media doesn’t tell you what to think, it tells you what to think about.” So when the news runs a steady string of stories about one cultural group as always being the perps in crimes, people‘s attitudes towards that group turn negative. Gerbner described a similar process regarding the reporting of crime. The news media creates the “mean world syndrome” as we come to think of the world as a violent place when in reality, crime rates may be lower than a decade ago.

These views of media power over the culture are not new. They began to be explored as television, and now the internet, moved to the fore. But the world is changing. What we see in the news media today, on TV, the internet, cable, newspapers, cannot be neatly classified as gatekeeping or agenda setting, though elements of these theoretical mechanisms are at play. While attitudes, beliefs and values are being cultivated, the means by which we are being cultivated has transformed. The news has taken a distinct turn to the dark side, reframing events in a way that supports their agendas, and reporting false or fabricated stories to the public. So I propose an additional angle on the means by which the media shape our thinking: strategic fabrication theory.

Now, I’ll be fair here and state that many of the journalists may not be aware that they are not telling the truth. They simply cover stories and quote “important people” who actually verbalize the lies. Corporations that wish to have the public believe a certain “story” about how the world is, or a so-called “fact” about an event simply fabricate the story and pass it to the journalists, who work for their companies. They have highly trained PR teams that write stories and provide them as press releases for overworked, underpaid journalists to copy verbatim. Their primary tactics are by “re-framing” and telling small consistent lies. When caught in a lie, they can always say “Oops, I’m sorry, I made a mistake,” or “My source was wrong.” The lies are usually small, but they are ubiquitous, their effect is cumulative. Call it “death by a thousand cuts.” The effect is worse than simple ignorance. People think they know how the world is. But they are deceived. And as they say, the worst thing about being deceived is that you are deceived. You believe you are right and when challenged, self defense mechanisms kick in and you vigorously defend that lie. Worse yet, after some time has passed, the deceived person cannot even remember why they believe what they believe. It becomes a hardened bias. But instead of having the ability to defend it intellectually, they simply shut out any contrary facts or ideas. The blind are not just leading the blind, they are making the world darker.

(I feel like I am preaching to the choir)

An example of reframing appeared in the NYT on June 17, same day as the FED minutes:

As we recall, in 2007 the housing bubble burst, prices plunged as a wave of foreclosures flooded the markets, now, after the bounce off the lows, this journalist says everything is just right. Too hot—then too cold—now just right! Goldilocks must be hiding around here someplace.

In addition the “mean world syndrome” in the news, now we have the “all is well” syndrome on the economy and business pages. Housing has recovered. People are back to work. Retirement accounts are growing. Is it true? The problem is that the jobs are part time, and people are not retiring. The monetary system is still broken as evidenced by emergency policies still in effect. Housing prices are not just right. But that news will never get past the gatekeeper.

Another example of re-framing is embedded in Yellen’s story that we should focus on the direction of movement, not the speed. While this may be arguable in a static environment, the proposition is absurd in a changing environment.

You see, only the fed’s thinking has shifted.  Their actions have stayed the same. “A slower increase” sounds like they are stalling. And then the rhetorical question “Does it really matter?” The implied answer is “no, of course not” It is “intent” that matters. Well, actually it matters, Mr Irwin. Because in three months the whole playing field may be different. The press here is downplaying that the Fed broke their promise to raise rates soon. They’ll do it later.  Doing it later is as good as getting it done now. Raising rates now will likely cause a correction in stocks and perhaps a meltdown of the bond markets. Later could do the same, if the economy is not improved. But why would anyone expect the economy improve with more monetary policy that has not worked. 

Hey Honey, I’ll be cleaning the garage a bit more slowly than you asked. Hey Honey, I’ll be putting my underwear in the dirty clothes hamper more slowly than you requested. I’ll do it later! See! All good right?

Reframing is nothing new—“making the worse appear the better reason,” as John Milton so famously described the rhetorical work of Beelzebub in Paradise Lost. The tactics haven’t changed. And as Milton concluded so long ago, “all was false and hollow.”

Journalists typically report lies of others who are the experts (except for Brian Williams). We have discussed repeatedly here the stats put out by the Bureau of Labor Statistics—an office that counts a part-timer, like my son who earned $3400 last year, as “employed” just like his father who worked all year and earned enough to support the family.  This summer he works two days per week and no doubt is still considered employed by the BLS. Obama reports how many jobs have been created in every speech he gives. But the breakdown of job quality (pay-rate and hours per week) is conspicuously missing. These are not the union auto-worker jobs of the 80s. They are the new world order jobs where people get to have more than one—often three or more to make ends meet. How fortunate you are my children. Back in my day, we only got to have one job, and we were lucky to get it. And the news media dutifully reports every word.

These lies are often ambiguous and small. Too big and someone might take note.

It is difficult to challenge the liars.  Yellen sees signs of a “pickup.”

Jerome: No you don't

Janet: Yes I do!

Only the Fed can read the tea leaves. If any sensible person looks at that complicated data, I suspect they will have a different conclusion. Need I mention the details of their exit plan? We here know they do not have a credible plan. So the details must be left shrouded in mystery. It’s not the journalists that are lying, its Yellen. But the public receives a lie nonetheless. And that keeps the “all is well” narrative going strong.

The result of these unending fabrications is a grand story about our world that is ubiquitously and tirelessly promoted to the public. “The shadow of crisis has past!” Obama’s administration and the FED have led us to a full recovery. Other versions of the grand story are excluded from the mainstream, other versions are ridiculed, other versions are ignored.

The preferred story, as we have come to know it, is rather convoluted, but some distinct themes are emerging. America is good. Our central bankers have saved the world economies and led us to a bright future. The vision began by the United Nations will bring peace and harmony through our virtuous western “democratic” system.  But as Enigo Montoya famously said, “Democracy—you keep using that word. I don’t think it means what you think it means.”

Recovery—you keep using that word …

Employment—you keep using that word …

Ethical journalism

And then I read this on ZH this morning: “Greek journalists were “trained” in Washington D.C. in order to support the positions of the IMF and the European Commission in Greek media.”  Talk about ethics!

The media theorists get it. They have been describing these mind-shaping tactics for decades now. This is mainstream media research, not the rantings of fringe professors. But the students hardly take notice on their way to their journalism degrees. Alas!

Keep telling us those sweet little lies. We don’t want to know the truth. We can’t handle the truth.


  • Gerbner, G. (1998) Cultivation analysis: An Overview. Mass Communication & Society 175-194.  
  • Stossel, S. (May 1997) “The man who counts the killings.” The Atlantic Monthly.
  • Shoemaker, P. & Vos, T. (2009). Gatekeeping Theory. New York: Routledge.
  • McCombs, M & Shaw, D (1972). "The agenda-setting function of mass media". Public Opinion Quarterly 36 (2).


philly's picture

Good to be FURST at

Good to be FURST at something!

Marchas45's picture

O! Boy A Story

Thanks Dr. J

lakedweller2's picture

Story! Story!

3rd or so

Great story Dr J

California Lawyer's picture

Great Article, Doc J. Thanks!

What a treat to be able to read such a compelling piece.  Thank you!

I always appreciate your thoughts.

I have a question or two, though.

Based on your interactions with the younger generation, the college kids you see in your job, have you noticed any discernible difference in attitudes in the kids NOW, versus say, a decade ago?

I ask this because I am trying a case right now, and I have an interesting jury.  No court today, though, thank goodness.

Anyhow, the jury is composed of two basic generational groups: 25 and under, and 50 and older.

The younger jurors are hard to read.  The older ones seem to be with our side, based on facial expressions, etc.

I had my law clerk, who is mid 20's, bring her classmates to trial to watch the jury a few days.  To a person, those young law students reminded me how savvy they are, and not at all the simple lemmings that we so often see them portrayed in the mass media. 

One of the law students told me she hated the gender stereotype that my opposing counsel was trying to pull off.  Basically, my female opposing counsel, who is about 54 years old, tried for the sympathy card, pointing out how she did not have a big team, or technology, apologizing for being disheveled, etc.

The female law student HATED that, telling me it offended her greatly, as this law student has been inculcated into believing, and actually experiencing, gender equality.  For the law student, this was a major disconnect in the lawyer's credibility.  She disliked the female lawyer viscerally.  

I point this out, because, forensically, the female lawyer is exceptional.  She is not a good thinker, strategically, but her delivery is excellent.  Notwithstanding that ability, the law student saw through the veneer and rejected her outright for the manipulation she was trying to pull off based on gender.  

I'm wondering if you notice things like that in your students, and if so, how that affects this theme of media control.

I guess what I am saying is I wonder if the mass media can truly control the younger crowd, who seems not at all so easily influenced because the sources of information are truly ubiquitous, and because the younger crowd tends to not accept authority or the message from authority like the older folks do having grown up in a different media era?

Anyhow, thank you kindly for the great post.

tread_w_care's picture

Excellent work Dr J

Excellent work Dr J

Really appreciate the fine thought pieces we are blessed with here. 

Barfly's picture

Superb, Dr J.

The blind lead the blind, indeed.

Ubik Kosmil's picture

The Economist

On a beach holiday this week, decided to pick up a copy of the Economist, just to remind myself of why I stopped reading it long ago.

There was an article describing how well the U.S. Economy is doing; the stock market, the low BLS unemployment rate, the 280K jobs in the latest NFP, etc... Completely ignoring how the NFP numbers are arrived at with Birth Death model and never ever mentioning labor participation rates.

Then it got funnier, it tried to present the capital investment story in a positive light - it was up 1% but only after removing the negative effect of the unusual Oil & Gas industry retrenchment as it was an outlier. And a paragraph later said that uS companies are borrowing record amounts of money and no doubt 'some' of it will make its way into capital investment.

What it completely failed to explain is how does Record borrowing equate with only 1% capital investment? Where is the money going? Have salaries increased dramatically? Or are companies using the cash borrowed at ZIRP to buy back their stocks inflating their stock price and triggering stock options??? Almost spoiled my mood, had to reach for an emergency beer :-)

Dr Jerome's picture

Cal Law

I am still striving to understand how our young people think and what makes them tick. They are certainly not ignorant and appear to have a firmer grasp on the world than I did at their age. back in the 1970-80s, I still believed that the news was about being informed and the rest of the media was about being entertained.
My son is 24. He is smart ans sophisticated. but much the "culture" I see in him reflects the snarky, cynical, attitudes of the places on the internet he hangs out. He reads web-comix, but also watches shows like Penn & Teller who post a weekly expose on something--like how bottled water just comes out of the tap. He spends hours & hours on the internet, following links, watching informative videos, watching every movie. Occasionally he calls me into his room to show me something profound. His language has become coarse and vulgar. I think he'd see through the woman lawyers attempts as well.

While his is nearly done with a psychology degree, and understands human nature and tendencies well, he is uneducated about the economy, politics, world struggles and the kinds of things that will determine the future we have. His vision seems to be short sighted and focuses on the things near to him.

Kids seem to live a live of seeking pleasure and fun, inasmuch as they can afford to. Some are serious and deep thinkers. Yet many turn to sex and alcohol--some to drugs--to add interest to their lives of poverty in crummy apartments, or sharing a decent home with a few too many people.

My younger students display a decline in ethics. Cheating? Why not? Its worse than when I was in college. But they are just as intelligent as ever. They want the easy way. Many do not even buy the textbooks, and do just enough reading to complete an assignment and pass. But woe to the professor who grades too harshly! That person will be subjected to a steady stream of complaints, grade challenges, and nasty comments in class evaluations.

Youth have accepted new ideas like "Friends with Benefits," polyamory (many lovers at once) as a lifestyle, any sexual preference at all must be genetic and is part of who a person is (Born that way). even though solid research shows the pitfalls of lack of commitment, too many partners, and the absence of replicable/generalizable genetic research as a component of gender identity formation. Caitlyn Jenner? why not--if that is who s/he really is on the inside. Can you imagine a public person doing that 20 years ago? didn't happen often. They don't care. They adopt the "memes" of their culture and that becomes their truth. Marraige is in decline because ... why? Men get sex from willing women who don't want kids or marriage. Women want a career and eventually a child, but not necessarily a husband. Bi-sexual? why not! Birth rates are declining. Morals are antiquated. Ethics are flexible--just be true to yourself, whatever that is.
But our youth are not stupid--just ignorant in key areas, and fed some crap in a few other key areas.

Many arguments promoting this or that today are done visually, not with words.. Images of beautiful happy people with a product or a lifestyle, promoted by corporations, PR firms, Hollywood. The culture has changed. I think there is no going back.

You can tell I am old-fashioned.

Nick Elway's picture

Dr. J made me look!

I found Amber Lyon, and she was hard to find without a name, pretty well scrubbed. I'm not sure if she's the one Dr. Jerome remembers.

This was an interesting summary:


Dr. J Thanks for the thought-provoking Piece!

Regarding the youth of today...

I worked a table to encourage a campus Libertarian group, no traction. The campus Republican group and Young Americans for Liberty are pretty decent, mostly Randians.

The bonus came when I visited the bitcoin club hackathon... it restored my hope. These youngsters are working for liberty, not in some conventional political movement sense, but with determination to live and transact freely. (I wonder how that bitcoin-based Internet horse-racing bookie business will pan out?) They seemed to be young Mr. Fix soulmates.

Dr Jerome's picture


I do see much in our youth that encourages me.

I think it was Amber Lyon. Her face looks familiar. It was the Bahrain piece that I recall. Fascinating and scandalous.

Amber Lyon is an award-winning journalist who worked for CNN. She says she was ordered to report fake stories, delete unfriendly stories adverse to the Obama administration (like the Nick Robertson report), and construct stories in specific manners while working for the left-wing network. CNN is paid by foreign and domestic  Government agencies for specific content.

cashonly's picture

great article

thanks Dr. J.

"Mean world syndrome".... hmmmm...?? what if...??? .....yes!!:

"BAD GOLD SYNDROME". Hey, you can't eat the stuff, right?

cyclemadman's picture

Great Obsevations Dr. J

I would like to add (about the younger generation) that I think they are all in for a rude awakening. Most have had very easy lives. Heck, my approaching 80 year old father-in-law can't find a teenager willing to tear himself away from the video games long enough to trim and mow his lawn.

When the Dollar collapses and these kids actually have to work to survive we'll see how quickly they adjust.

Nick Elway's picture

et tu Zerohedge?

Copyright ©2009-2015 ZeroHedge.com/ABC Media, LTD;

I don't see the censorship and slant yet (maybe they are so subtle it eludes me (but not SS121))..

Who will be the next ZeroHedge ?

benque's picture

Invasion ALERT!!

From GATA e-mail

Greek Gold Sales to Raise Funds Seen Unlikely by Commerzbank
By Eddie van der Walt
Bloomberg News
Friday, June 19, 2015

Greece is unlikely to resort to selling gold because disposing of the hoard valued at about $4.3 billion would only postpone a default, Commerzbank AG said.

Bullion prices would probably fall if the nation were to sell metal on the open market, Commerzbank said in a report Friday. Using gold to raise funds may mean selling to another central bank or the International Monetary Fund, or lending out the metal, it said. ...

"Selling gold would deprive the country of its only really valuable reserves, which could be put to good use at a later date, perhaps to stabilize a new currency if Greece exits the euro," Commerzbank analysts including Frankfurt-based Eugen Weinberg wrote in the report. ...

... For the remainder of the report:


Now who will invade Greece to ensure the "safety" of "it's" gold? Let's see.....Germany again? USA? EU(bankster special farces brigade)?
Maybe they'll all fight over the poor Greek carcass...just for the gold, then exploit it as another Ukraine to blame Russia for "meddling". Why waste a perfectly good "crises"???

Dr Jerome's picture

NUGT down 6% while metals flat

Looks to me like they just couldn't let some call options close in the money. A close over 10 where it opened this am  would have made about 11000 more contracts look real good about now.  Good grief, these people don't miss a trick. their algos are probably programmed to kick traders in the rear, no matter what. I still plan to hold shares over the weekend, hoping for more squeezing.

Maybe tomorrow we play catch-up!

cyclemadman, I hear you. hard to find hard working young people. they'll have to work if they wish to eat one day.

Wingy's picture

Great Post, Dr. J.

I was brought to this site by Turd's insight and humor. I mean, he calls himself "Turd", right? He also brings us lemmings into the light with his take on the "markets". That alone makes this site well worth the cost. The icing on the cake, however are the guest posts and comments on all the posts. For pure raw brainpower, this site must boast the highest IQ on the interwebs.
Dr. J, this post simply codified what most of us already knew. I haven't believed a BLS number since Carter, and inflation stats since LBJ. What is new with your post is that not only is my disbelieving of these numbers warranted, but the realization that the number generators are following a recognized strategy DESIGNED to pull the wool over the eyes of the unwashed masses. All this time I thought this was just a CYA exercise for the prez de jour, but not a tried and true method to spin a whole narrative. Joseph Goebbels anyone?

SamSchlepps's picture

Absolutely great stuff!

You've hit a big nail square on the head. And to double down on your comment re plagiarizing - perhaps history does rhyme and cycles do repeat - I was looking at the Silk Road today and came across this Quote - seems a familiar refrain and almost story-like in its repetition and visual nature.

The history of the Silk Road pre-dates the Han Dynasty in practice, however, as the Persian Royal Road, which would come to serve as one of the main arteries of the Silk Road, was established during the Achaemenid Empire (500-330 BCE). The Persian Royal Road ran from Susa, in north Persia (modern day Iran) to the Mediterranean Sea in Asia Minor (modern day Turkey) and featured postal stations along the route with fresh horses for envoys to quickly deliver messages throughout the empire. Herodotus, writing of the speed and efficiency of the Persian messengers, stated that “There is nothing in the world that travels faster than these Persian couriers. Neither snow, nor rain, nor heat, nor darkness of night prevents these couriers from completing their designated stages with utmost speed" (these lines, from his Histories, 8.98, would centuries later form the creed of the United States of America’s post office). The Persians maintained the Royal Road carefully and, in time, expanded it through smaller side roads. These paths eventually crossed down into the Indian sub-continent, across Mesopotamia, and over into Egypt.


joeblack's picture

GPL down 22 %

after being kicked out of the GDXJ for the price being too low.

canary's picture

My favorite daily read...

...is Chuck Butler from "Daily Pfennig". He often writes: "...and that's all I can tell you here. But if you want to hear more, you have to come to my patio."  Then he gets emails from readers reminding him about freedom of journalism.....And here is his response: " Yes, I'm a journalist, but people forget that my editor has a sponsor".

SteveW's picture

Nice piece Dr J.

and it's a pleasure reading someone who knows adverbs and how to use them. I had thought they were a practically extinct part of speech from my encounters with the MSM.

blackhawk01's picture

Whats the matter with you people!?!

Turd takes a little hiatus and you sit on your hands instead exclaiming BULLISH CoT from your keyboards!?! Holy moly look at that thing. Going to the moon.

argentus maximus's picture

Top class piece Dr J. They

Top class piece Dr J. They don't write themselves! Thank you for taking the time.

mike97's picture

COT Report

The COT report for last Tuesday still looks good- if you can believe anything. The gold commercials seem to be similar to last week with more( 3500) longs added than (1500) shorts added. The silver commercials added many more longs (2800) and got rid of a whack of shorts (4300) for a 7,000 contract Improvement in the spread.
I suspect it was the Fed/Cartel (aided by China) capping the metals today so we may have added a pile more commercial shorts today. I hope I am wrong and that it was the large specs doing a pile more shorting.
So lets hope the silver short squeeze is yet to come and the Cartel does't let the shorters off the hook again until we make $18.00.

imfd's picture

Many thanks Dr .J.

A fine and refreshing read. I remember a time when newspapers would have items as well written and informative as yours, that was long ago though. Now it is all agenda driven propaganda, a slant on everything. I do believe that the last piece of investigative journalism was by Woodward & Bernstein, after Nixon resigned, the PTB thought it wise to buy up all the TV stations and newspapers to make sure that kind of thing never happened again...and it hasn`t.

mike97's picture

More good news

More good news if you can stand it - the US$ was down again today -45 points (0.37%)- against the Japanese yen. I think that is about the third day in a row. Come on gold- its time for a catchup! We need Turd to give us a chart.

joeblack's picture

CME COT vs Goldseek COT


Silver bullish

Gold no change

goldcom's picture

I found this about Gold/Silver backed Debit Cards

I commented on another thread about David Morgan discussing private banking getting in the game of competing with fiat transactions and came across this. An interview by Rory Hall with Dale Olmstead who sounds like he would fit in here at Turdville and he has established the PM debit card


And thanks Dr J, for another great read.

Marchas45's picture

Great Read Dr.J

Finally got around to reading your story since you posted it. You had me really excited when you were telling your kids a story then you went of the track and started talking all this Fed nonsense. Hell I wanted you to finish that story. LMAO
By the way, few people have noticed that the interest rate on a 30 year mortgage is over 4% now after a couple of years below that. Maybe this is the way They (TPTB) are going to do it, every two years raise a little. Lol Keep Stacking

Fred Hayek's picture

The Peripatetic School?

Do you accept transfer credits from Hard Knocks.

Fred Hayek's picture

@Goldcom -- You can set up your silver or gold based card today

Clicking the link below will take you to the web site for Perpetual Assets.  Click on the tab labeled "Metals Card" and you can start the process.  You will have to buy at least $500 of gold or silver bars or coins.  The card simply treats the value of those bars or coins as a debit card balance. 


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