Bread, Circuses and Bogeymen

When I was growing up, and on various occasions expressing an interest in biology or medicine, my dad would sometimes tell me stories that became his versions of ‘no-longer-a-little-kid’ but ‘not-yet-an-adult’ fairy tales. These were genuine attempts on his part to try to relate to me as an equal, to teach me as much as he could at the level of understanding I had. For those of you with kids 10 and under – you MAY be surprised how well and with what detail kids remember the most technical aspects of your explanations.

I would get myself into trouble, by insisting on something that was scientifically and technically quite true – but not common knowledge. I knew the fact itself, and the reason I believed it (why? my dad told me so, silly…) – but could not always adequately, or at least convincingly, explain the underpinnings of the WHY. I distinctly remember at age 9 or so getting into an argument with a small group of older boys about what kind of acid was the strongest. One guy said ‘hydrochloric acid’, the other guy insisted it was ‘sulphuric acid’. I would not back down from my insistence on fluoric acid ( -- despite the disbelief, then ridicule of my teammates, who had never heard of it – the only type of known acid that could easily dissolve glass, which in fact is USED to etch glass. In my mind, that proved beyond a shadow of a doubt its superiority to all the others, which could so easily be contained by such a simple and fragile container. Lacking access to (or even the existence of) the internet or a chemistry textbook on the way home from rowing practice, I eventually gave up trying to convince them that it was the only type of acid which could NOT be stored in a glass bottle. If I had known about the existence of aqua regia ( I might have tried to argue for that with more luck, but alas that came later…

In any case, I wanted to tell you one of these ‘tall tales’ about a young Eastern European doctor ( . As a medical student during the Great Depression, he noticed a set of symptoms that were common in patients across a REALLY wide spectrum of ailments, from peptic ulcers to tuberculosis. Regardless of the specific ailment, he observed a common set of physiological changes in the people he treated. While his observations were not in an of themselves new or unique – we have all seen that people look different from their usual self when they are ill, we all know that every encounter with medical personnel generally begins with a measurement of blood pressure and pulse -- he wanted to know the WHY, the underpinnings, the effect mechanism, if you will.

Well, this young doctor went on to specialize in neuroendocrine medicine (among other things), and soon had experimental backing to his early observations. At age 29, he managed to get published in Nature, which though perhaps not as widely known, was already a quite respected publication in 1936. The unassuming letter to the editor read as follows:


Nature 138, 32-32 (04 July 1936) | doi:10.1038/138032a0

A Syndrome produced by Diverse Nocuous Agents

EXPERIMENTS on rats show that if the organism is severely damaged by acute non-specific nocuous agents such as exposure to cold, surgical injury, production of spinal shock (transcision of the cord), excessive muscular exercise, or intoxications with sublethal doses of diverse drugs (adrenaline, atropine, morphine, formaldehyde, etc.), a typical syndrome appears, the symptoms of which are independent of the nature of the damaging agent or the pharmacological type of the drug employed, and represent rather a response to damage as such.

Though he (and the few readers of the publication at the time) did not have the word for it yet, he was talking about the definition of physiological stress – the reaction of a living organism to any internal or external event that threatens its existence through seriously disturbing its natural, self-sustaining equilibrium. This event could be internal -- a parasite (virus, bacterium) or a poison (whether socially acceptable, such as too much alcohol, or one more intentionally lethal). It could be an external injury, a physical blow, the appearance of a predator, a shocking/traumatic/sudden event -- a collision, or even a narrow avoidance of one. The sound/shock of an explosion. Later, as he (and other researchers) dug deeper, they realized that psychological pressure/shock was also a factor which could cause such a reaction in the body – essentially anything that the living being’s nervous and hormonal system interpreted as a potentially mortal threat, which elicited a fight-or-flight response.


General adaptation syndrome

Physiologists define stress as how the body reacts to a stressor, real or imagined, a stimulus that causes stress. Acute stressors affect an organism in the short term; chronic stressors over the longer term. General Adaptation Syndrome (GAS), developed by [János] Selye, is a profile of how organisms respond to stress; GAS is characterized by three phases: a nonspecific mobilization phase, which promotes sympathetic nervous system activity; a resistance phase, during which the organism makes efforts to cope with the threat; and an exhaustion phase, which occurs if the organism fails to overcome the threat and depletes its physiological resources.

The theory, from its humble beginnings as a medical resident’s letter to the editor, has since made the rounds through the Western medicine (much to the amusement of Eastern medical practitioners, I am sure, who had likely known and used this knowledge long before), and is today standard part of pathological study (and self-help books, popular lifestyle magazines and daily parlance) ( While he never won a Nobel prize, (never the bride, always the bridesmaid – nominated 10 times), another group of scientists who isolated and synthesized the hormones involved in the stress response did win in 1950. This is the physiological basis for explaining a whole host of ‘civilizational illnesses’, for the ever-increasing rates of diseases both physical and mental. This is the basis of PTSD, which was MUCH earlier known, then apparently re-named in each era, from Gilgamesh through Old Testament, then the Greeks at Marathon all the way to the Napoleonic Wars and beyond – direct exposure to massive death of others and imminent death of one’s own can and does create (semi)permanent ‘stress’. (

The concept is actually not that easy to explain, and one of the reasons is, ironically, the extremely widespread use of the term in everyday language across the world – and because of its alternate, previous meaning from physics. Stress is the state of the organism (for the moment, we will focus on humans) that is a REACTION to some event, factor or condition that threatens its well-being, or at least its internal equilibrium. The factor causing the upset is the STRESSOR, the negative version (to an upsetting, harmful factor) is DISTRESS, the ‘positive’ version is EUSTRESS (though I have yet to hear anyone actually utter that one in conversation) – think of the body’s reaction to extreme amorous arousal, or perhaps a less long-term positive of a drug high. Here is the good doctor trying to explain in a few sentences, watch the interviewer’s face:

The process, to begin with, is perfectly adaptive. It marshals the body’s resources to combat the threat at hand. It creates the fever, which raises metabolic rate to fight illness. It ‘girds the loins’, so to speak – shutting off digestive and reproductive systems, activating ‘battle vision’; and sends glucose pouring into the bloodstream that is pumped faster and harder by a heart prodded judiciously by adrenaline.

The problems begin when the threat remains, even after the body is tired, its reserves spent, its muscles or white blood cells used up. If the threat remains, this is the part that leaves to what is called the exhaustion stage – the part that makes those sick ‘look sick’.

The real problems, though, come from the prolonged, unrelenting exposure to the stressors which generate this response in the body (and mind). The chronic illness, the kind of workplace that either never lets up, or re-creates crises (or ‘crises’) – or the prolonged stay in a combat zone, say. THIS is what degrades the immune system, damages the heart and circulatory system, ages tissues and organs. Just take a look at any president before and after a term or two in office.

It’s important to note that people react to stressors differently – and different stressors create reactions in me than in you. Ultimately it is the body (through the brain) that decides IF a situation is a threat. And people will have different capacity and tolerance for stress – both how much they can bear, or perhaps more accurately how well they can cope (e.g. reduce/reverse the stress response before exhaustion is reached).

It is often said that many/most of the ailments so common in society are civilizational – caused by the artificiality of our surroundings, by the lack of regular exercise, by the disruption of our natural circadian rhythms and thus sleep cycles. Of course, the (over)processed foods, the refined sugars, the genetically manipulated vegetables and crops (and soon animals) don’t help. Not to mention the pharmaceutical cocktails passing through so many bloodstreams, the lack of clean air in so many if not most large cities.

But I would add to this list one more – the constant, unrelenting stream of media coverage – whether news, ‘news’ or straight-up advertising. Coverage meant to put you on edge, meant to convince you need that strong president to protect you, that superior car insurance, that better car, that increased military appropriation, that stronger local police force (with MRAPs, hi-cal automatic firearms and no-knock warrants). The advertising that is meant to exploit your base, often subconscious fears (along with the drives and desires) in the quest to sell you more stuff – and the news playing on insecurity and herd mentality in the quest to sell you an ever decreasing set of freedoms and less self-determination.

The thing of it is, it’s hard to differentiate between callous indifference and criminality. No need to create a conspiracy theory about ill intent, when an explanation of incompetence or stupidity will do just as well. But I would argue that in the case of the media bombardment of our senses, we are dealing with a case of confluence of both. Advertisers on one hand don’t care about our well-being (insofar as it does not unduly hinder our capacity to consume) – and those who would sway our opinions to gain more power (though some would say I repeat myself) are only HELPED by a populace in a state of reduced resistance. One prone to more illnesses, both physical and psychological.

Heightened anxiety, reduced capacity for rational thought and decisions, greater likelihood of reverting to the mental shortcuts of stereotypes, heuristics and biases – just what a propagandist needs, when there is a populace whose hearts and minds need swaying. I imagine that I feel the tenor and tempo of this ‘music’ rising, day by day. Soon, I should think, we will be presented with the next BIG EVENT, a display, a spectacle. An external (or externalized) threat that EVERYONE will be able to recognize and, and coalesce against. Whether that bogeyman is North African/Southwest Asian/ Central- and South American immigrants, the repo men coming after the subprime-financed auto in loan default, whether it is the ‘arrogance’ of people who do not want their earnings redistributed to those who ‘are in greater need’, the spectre of a heroin epidemic, the threat of… WHATEVER. Projecting bogeymen to garner support, silence opposition and consolidate power? It’s a tactic as old as civilization itself. Just the like body mounts its stress response – so does society as a mass of people. And just like the body gives up higher-order functionality to focus on an immediate existential threat (whether real or merely perceived), so too does society as a whole.

For some examples and elaboration on this, check out The Power of Nightmares and Century of the Self from Adam Curtis, and Psywar.

The challenge with all of this? The intent and integrity of the news sources is not necessarily a saving grace. Given enough bad or distressing news (honest or not), the effect will still be the same. It’s why I can’t really read Zero Hedge nearly as regularly as I once did. Certainly part of the reason I can’t willfully bring myself to actively analyze events as much as I used to. While all of us – erstwhile contributors, readers, participants in conversations here in Turdville – may have different reasons, different sources of business and different new areas of focus to make demands on our time – I think this is a factor that weighs on us all. How can one remain constantly alert, constantly vigilant? How can we ALL remain indignant, outraged, critical in all ways, ready to sort wheat from the chaff? How can one maintain unwavering focus, the level of energy needed to absorb, process and internalize all this information?

Yet I sometimes feel that this, too plays in to the hands of the proverbial ‘powers that be’. I don’t mean to include honest journalists, the investigative bloggers, the whistleblowers, those actually trying to take a stand to change the state of affairs for the better. But the months and years of unrelenting low-grade anxiety punctuated with regular instances of severe crises – whether it be financial breakdowns, civil unrest, trrrrist attacks real or staged, images of mass death and depradations on television and in print – put together have a substantial effect, over time. Those most perceptive, those actually paying attention, those invested in understanding what is happening, and trying to prepare for the future – are the ones who are most deeply affected. And when actual, acute crisis finally arrives? Will we be better prepared, more hardened, ready to go? Or worn down, worn away, more passive and less capable?

While making popcorn to watch the main event unfold sounds perhaps heartless, as if one was taking pleasure or amusement from watching the failure of the great experiment -- think of it more are watching from a slight distance, from a perch of safety. I have a feeling we'll ALL know when the time has come to fully re-engage

What can be done? Shutting our eyes and ears, humming to pretend we hear nothing is not an option. Just because it is not a pleasant reality out there makes it no less real. But to paraphrase my favorite author – there is no need to live in trouble until trouble comes. Be aware of the dangers of the constant pressure – but be more like the reed than the oak tree. Bend sometimes, rather than stand up to every gust and gale. Take pleasure and relief in good tidings, company of family and friends, success well earned. Build, rather than deplete, the inner reservoir of good karma, meaningful relationships, and yes – even optimism. Humor, in all its manifestations, in abundance, whenever possible. Regular physical exercise – it’s not just for health nuts, it’s a survival necessity. Mens sana in corpore sano – known for ages, more relevant than ever today. Meditation, hobbies (perhaps ones that can be profitable/useful as well as distracting?), music, chess, nature in its splendor or starkness – or whatever allows you to relax, recharge. Make time for some each day.

(PS: Sorry about the lack of illustrations and the ugly-looking, spoiler-making pasted-in links, I am for the moment unable to work with the html editing tools the site generally provides.)


SS121's picture



AlienEyes's picture



SilveryBlue's picture


Be an uncommitted investigator. Browse and digest in an offhand way and do make the most of your time with family & friends.

Orange's picture


4th at 4 AM. Why am I here, darn storm coming through and raining heavy. Good Morning All. 

AlienEyes's picture


That was a very well written and well thought out piece but it started to become a bit vague in the last few paragraphs. Summations and the final restatement of a point are indeed difficult. Nonetheless, the first 95% was well worth the time and a pleasure to read. It was also, for the great majority of the piece, exceptionally clear and concise.

We are most fortunate to have some very talented writers and intelligent thinkers here at TFMR. Examples of this like your latest effort are well worth the price of admission....not that I don't look forward to Craig's return. TFMR offers a balance of excellent writers with excellent insite and impressive experience and understanding.



I fear a majority (but not a vast majority) of "Bogeymen" today are real or close enough to real to scare the hell out of a demon with a toothache. We do indeed live in interesting times.

Sir Peter Latterman Fortenton's picture

negative / positive news

I agree with you, I read zerohedge most days, probably for the past 5 years or so,  now whenever i see a picture of obama, hillary, Blankfein, Dimon etc I get an automatic feeling of revulsion, like when you visit the bathroom at work and someone has left a wee smiling jobbee for you to admire.

But seriously, reading bad news all the time is not good, i try to balance it with positive stuff like the survival podcast and the gary null show

Dr Jerome's picture


Fabulous article JY. 

I had never heard of "eustress," but it makes perfect sense. EUstress: the kind of stress Germans and Britons feel that comes from the EU steering their future with poor monetary policy that leads toward national bankruptcy, social uncertainty, and inviting in the US military to start a war on their eastern borders. I'd be stressed too.

My own reading of ZH has been limited to a quick scan of the usual headlines: corruption, bad news, bankruptcies, immanent collapses. I used to read each story. I just cannot do that anymore. But when the precipitating event arrives, I do not want to be a day late in recognizing it. I am confident that our friends here will quickly point it out to us. In fact, this site is where I get most of my news these days.

procog's picture

JY, What what a Pleasure to read.

Very insightful and beautifully written.  Thank you for your time and effort.

I am leaving for my bike ride along the beach in a couple of hours.

James Crighton's picture

To summarise?

To summarise JY896, chronic stress of any sort - physical and or psychological - will lead to chronic output of stress hormones (like cortisol and adrenaline) which, on a chronic basis, will lead to catabolism (breaking down of tissue), emaciation and even death. Avoid it if at all possible, eat healthily (avoid sugar and alcohol) - and get regular exercise - especially aerobic on a sustained basis for at least 40 minutes a day.

BIGNASTY's picture


A rather timely reminder and a subject that hits close to home. Like many I'm acutely aware of the short and long term effects of stress yet am more guilty than most of ignoring the warnings and making more balanced/healthy choices. It's so easy in a society with 24hr news/info from the four corners of the world to get pulled into the chaos that we can not change anyway, at least not personally.

I catch myself having to reground, re frame on a regular basis.  I have to pray/meditate,  intentionally get more exercise, count my blessings, spend valuable time with family. I get on a plane in a couple hours to spend the summer with my two young nephews whose lives I try to enrich. I have to consciously not pass off the worlds chaos. Your article helped me this morning to diligently be self aware of transference and generally take better care of myself. A broken vessel holds no water. Thanks JY serious 1,000 hat tips! 

AIJ's picture

McHugh Update

"Gold has most likely finished a 3-3-5 Flat pattern for corrective wave 2-down. If so, a powerful and dramatic rally is starting to unfold, taking Gold at least toward 1,400. New Buy signals in our HUI key trend-finder indicators Friday, June 3rd, support the possibility that the wave 2 bottom is in and 3-up has started."

tyberious's picture

The Truth About Silver & Gold

The Truth About Silver & Gold Mining Stocks - Mike Maloney

AGAU's picture


$1230 to $1400-- dramatic, powerful- rally ---- huh?

Orange's picture


OOOBuck's picture

JY896 - Who Knew!!!

Loved it.  Thank you for a very thought provoking article.

SamSchlepps's picture

Bloomberg reasoning aside - there's a message here

Of course I don't have the playbook or know the code. It seems watching and getting cryptic events is what we must endure as part of all this. The pressure to negotiate or cave is being released, much like the threat of gold/silver lawsuits and oil price fixing before and after the IMF spring thing.

I can only guess that seats of the lifeboat of the Titanic are now assigned, all renovations to the life raft have been done, and the TV's, pet kennels, and soft rugs are done on it - so cast off time was always fixed, but some of the 'smaller' things needed to be sorted - like who gets a seat.

tyberious's picture

Danny B

UBI, Treasury accuses the FED, banks melting

The rich got all the money and thought that it was pretty cool. They are finally waking up to the fact that the general populace is close to starvation and revolution. People can't revert to an agrarian society in the cities so, the cities will be abandoned and destroyed. This is a definite non-starter for the rich.
Zero Hedge published 9 graphs of official numbers that show most people have NO future.
The trajectory is unmistakeable and getting worse.
The Wall Street Journal, of all people, has come out and advocated a basic income for everybody. This is an admission that things are really bleak.

"The UBI is to be financed by getting rid of Social Security, Medicare, Medicaid, food stamps, Supplemental Security Income, housing subsidies, welfare for single women and every other kind of welfare and social-services program, as well as agricultural subsidies and corporate welfare. As of 2014, the annual cost of a UBI would have been about $200 billion cheaper than the current system. By 2020, it would be nearly a trillion dollars cheaper.

Finally, an acknowledgement: Yes, some people will idle away their lives under my UBI plan. But that is already a problem. As of 2015, the Current Population Survey tells us that 18% of unmarried males and 23% of unmarried women ages 25 through 54—people of prime working age—weren’t even in the labor force."

There just isn't enough purchasing power in the population. Wages can't be raised or more jobs will be outsourced to low-wage competitors.
"In my version, every American citizen age 21 and older would get a $13,000 annual grant deposited electronically into a bank account in monthly instalments. Three thousand dollars must be used for health insurance (a complicated provision I won’t try to explain here), leaving every adult with $10,000 in disposable annual income for the rest of their lives."
"as well as agricultural subsidies and corporate welfare. " These amount to10 times the cost of personal welfare.

ALL the reliable indicators say, "would imply that the economy could enter recession as soon as the second half of this year."
When Will The Recession Start: Deutsche Bank's Disturbing Answer | Zero Hedge
OK, so the crash is unavoidable. EVERYONE is screaming that the FED is responsible for all of this mess. BUT,
"The net effect is that it is as if the Treasuries bought by the Fed didn't exist. But they do exist on the Fed's balance sheet. Technically, the Treasury must pay the Fed back one day. Until then, the Fed has given the Federal government more money to spend."
How Is the Fed Monetizing Debt?
The FED gets it's marching orders from GOV. A debt jubilee would cancel the debts from the U.S. Treasury owed to the FED
The FED may have the printing press but, GOV is stepping on the gas pedal.

There are a lot of smart people at the FED and many of them knew that ZIRP is always a trap. Well, GOV wanted to stimulate and GOV is severely lacking in brain power. There is NO POSSIBLE exit for the FED.
Why The Fed Is Trapped: A 1% Increase In Rates Would Result In Up To $2.4 Trillion Of Losses | Zero Hedge
The FED lowered the rates. The money flowed into mal-investment. If the FED raises the rates, it blows all the mal-investment. If it doesn't raise rates, it destroys all investment funds.

Sorry guys but, Aussie is going to tank as bad as all the rest. Time to go "bush" for a couple of years. 5 Reasons This Country Is In For Big Trouble | Zero Hedge

The financial system was just too big for the underlying economy. various stratagems were introduced to try to save all the banks. It was just a postponement, "Europe’s STOXX 600 Banks Index sank 5.4% this week (down 2.17% Friday), increasing 2016 losses to 19.6%. Italian bank stocks were clobbered 8.4% (down 2.84% Friday), ending the week just off early April’s three-year lows. Italy’s banks closed the week down 39% y-t-d. The Italian stock market (MIB) was down 3.8% this week, increasing y-t-d losses to 18.3%" Credit Bubble Bulletin: Weekly Commentary: Monkey with Money at Your Own Peril

6/06 Goldman finds that China’s debt is far greater than anyone thought – Zero Hedge Naturally, you should trust everything that Goldman says.
6/06 World faces pensions crisis, warns OECD – The Telegraph No kidding, when did they figure that one out?

"we are now 8 years into the fourth turning with at least a decade to go",

canary's picture

IO (final)

Gold     -3,611

Silver   -1,543.

                                                  JY   yes

JY896's picture

@AE & JC

AE: Point well taken, and acknowledged. Not only do I not have a comprehensive 'solution' to the problem described, I also ran out of time and 'gas'. The only reason I dared post it in such semifinished fashion is the expectation that other Turdites might contribute their own 'ending'.

JC: Yes, that is the endocrine gist, and much shorter than the rambling text above... :-) I had hoped, and WAS trying tie in a few other points too, but as AE pointed out, the synthesis could have been better. But the again, life is just being born, breathing, eating, drinking, moving your various muscles in a number of ways, until system functionality breaks down, and death sets in... ;-)

Edit: Thanks all, for the kind words. Stimulating thought WAS the primary, if not sole intent. You're right, Pining - this is just another example of why I would make a poor (snake oil) salesman ;-)

Pining 4 the Fjords's picture

Don't apologise- Take a bow!

You nailed it, IMO- thank you very much for sharing this great work!  So many people who used to be here, understood what was happening, but eventually suffered an overload from the grind...  Such powerful advice,  to exist in peace outside this 'aware and prepare' world, cultivate productive relationships, or perhaps just plain cultivate!  

Thank you, my friend.  

Dirt_Reynolds's picture


I look at news as being "good" if it is more correct than not. When the lady of the house is watching TV I have adverse reactions. I have to leave the room as my BS detector just goes nuts (they really like to pound on the visual cortex.)  I find ZH refreshing. I know it's controlled opposition. (I have the Roger Stone article they pulled in August last year.) My BS detector is less agitated on that site I guess. Also, I can verify many of the numbers, and stories. Honestly they save me time as I do not want/have a Bloomberg terminal, so I was always digging in the back of the papers for prices, volumes, et al.

It is a little like Stephen Lynch for me. His music is great, best bridges in the business. People love it, until they hear the lyrics. I find them refreshing and new, most people are puzzled, if not turned off.

I take solace in this, and I think it applies to most peeps in Turditopia:

If the economy goes to hell, I will excel. If the economy muddles along, well then I'll muddle along too.

Above all do not let the bastards get you down.

indiana rod's picture

Bread, Circus, Ancient Rome

The title of your article reminded me of ancient Rome. The average daily wage at that time was one Dinarius, one ounce of silver.

Today's average daily wage is what? $120? Shouldn't the price of silver be the same?

This has frustrated me for years but so far I haven't developed a syndrome produced by Diverse Nocuous Agents.

Verus nemo's picture

@indiana rod/Dinarius

My understanding is that in ancient Rome a dinarius was about 1/10 oz. of fine silver, depending upon (of course) just when you sampled during that period. Consequently, if today's average daily wage is $120 as you assert, the price of silver/oz in USD might potentially be closer to 10x that amount.

Interestingly, one of our pre-1965, 90% silver Constitutional dimes is relatively close (i.e., ca 13.7 Mercury dimes = 1 oz.) in weight to the Roman dinarius. Just last week ran an article on how a dozen eggs were commanding the equivalent in Venezuela of about $150 USD. I thought that revelation was interesting since I sell the extra eggs my laying hens afford me each week for one 90% silver Mercury dime/dozen to a fellow, local stacker. Honest money in exchange for a wholesome, honest product. I am ahead of the game, I guess!

Orange's picture

C Span

Havenstein's picture


This writing reminds me of the fact that the mass shooters are often found to be on psychotropic drug treatment, kids prescribed same at an alarming rate, US adults devouring mountains of pills.  JY896 illustrates they are being driven to it.

I checked out last year from zerohedge, KWN, facebook, etc.  My sanity demanded it. I haven't had a TV since 1999, so that helps. 

It's been healthy for me to hear from many Turdites that they had the same reaction as I did.

Thanks JY896 I enjoyed your work.

- H.

canary's picture

Good communication skills

Last night it was London's turn to hit the PMs.....tomorrow Comex will do the job.

AlienEyes's picture


I left Farcebook several years ago but it is not as easy as one might think. I deleted my account but I still get messages to log in to get "messages" and "new request for friendship". Now just how can I get a "new request for friendship" if I'm not even there ?

tyberious's picture

COMEX Registered Silver

COMEX Registered Silver Owners Per Ounce Jump To Record Leverage

COMEX Registered silver inventories are the lowest they have been in more than 15 years.

by Steve St. Angelo, SRS Rocco:

Something very interesting took place in the COMEX Registered silver inventories last week. There were two very large transfers of silver from the Registered to the Eligible category. What makes these two large withdrawals so interesting is that the Registered silver inventories are now at a record low.

The first large transfer of silver was reported on June 1st, in which 2.5 million oz (Moz) were taken out of the CNT Depository and another 410,000 oz from HSBC. Nearly 3 Moz of silver were transferred out of the Registered inventories in one day:

Read More

canary's picture

They work more like the hyenas ....than monkeys


benque's picture


My Mom never had a farcebook account, but one of her dumbass friends does.  Dumbass uploaded her e-mail addresses to farcebook, so everyone of her contacts gets several "friend me" requests per week, including my Mom.

No matter how many filters and "rules" I have put into Mom's outlook, these damn "friend me" requests are unstoppable.  At least I have managed to have them routed to junk mail folder, so they delete after x number of days.

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