Easter Weekend - BLSBS - Open Thread

It's a 3-day holiday weekend. Markets are closed in the U.S. Too bad, too, as the metals would have seen a pop today.

As this is a holiday, I'll keep this brief with a few links links lifted from ZH that should begin the conversation. First up,  this Lee Adler piece discussing the outright manipulation of the BLSBS data:

http://www.zerohedge.com/contributed/2012-14-05/nonfarm-payrolls-should-fall-377000-they-won’t

Next, here's the report of the actual data. (All the political incentive to goose these numbers and the best they could do was a lousy +120,000? Yikes! And the drop in the headline number to 8.2% is simply based upon a big reduction of the total number of people "in the labor force".)

http://www.zerohedge.com/news/nfp-big-miss-120k-expectations-205k-unemployment-82

http://www.zerohedge.com/news/average-march-seasonal-adjustment-factor-824600

Lastly, a lot of talk about the Blythe Master interview yesterday on CNBS. Watching the video is fine and it's included in this ZH link. What you really need to read, however, is "Tyler's" reporting of it. Absolutely spot on analysis. For whatever reason. "Tyler" never overtly joins the goldbug camp. However, it is quite clear that, deep down, he is one of us.

http://www.zerohedge.com/news/blythe-masters-blogosphere-silver-manipulation-its-gold-axed-clients-and-doing-wrong-thing

I'll stop there lest someone think that Harvey Organ has taken over as guest "Turd" for the day. I hope that everyone has a safe, relaxing and fun holiday weekend. Get ready for a wild week next!  TF

275 Comments

Basil's picture

Why did Turd say ...

"It's a 3-day holiday weekend. Markets are closed in the U.S. Too bad, too, as the metals would have seen a pop today."

Why would the metals have seen a pop today ?  The awful non-farm payroll numbers sent the Dow futures tumbling by about 140 pts before the market closed.  Would that normally mean that Gold and Silver would rise ?  I'm not convinced.

Orange's picture

Egan-Jones cuts US Credit Rating

I didn't hear this yesterday. Perhaps this is another reason they hit gold?

Rating firm Egan-Jones cuts its credit rating on the U.S. government to "AA" from "AA+" with a negative watch, citing a lack of progress in cutting the mounting federal debt.

http://www.cnbc.com//id/46970602

ink's picture

@Basil

The disappointing non-farm payroll numbers would have been interpreted as a bigger chance for QE3 in either April or June. Also it is a reason for risk-off and a flight to safety (hence the lower Dow futures and higher 10 year notes). Combine that with a touch of the US downgrade yesterday, although only by Egan Jone and a lower dollar index. Voila, you have rising gold prices.

Dr G's picture

@Basil, in limited trading

@Basil, in limited trading the metals DID see a pop today. Multiple charts and sources (such as Bloomberg) have gold hitting a 1642 spike and silver a spike above 32.

For example: http://www.bloomberg.com/news/2012-04-06/gold-prices-gain-as-u-s-employers-add-fewer-jobs-than-forecast.html

and

GoldSeek.com provides you with the information to make the right decisions on your AG 24 Hour investmentsAU-24HR-LG.png?r=340463705641.7377

waxybilldupp's picture

Open thread?

Did I hear "Open Thread"?  Does that mean I can post something beyond "off topic"?  Anyone? Bueller?  Anyone?

Some amazing facts to share with guests at dinner Sunday:

If you yelled for 8 years, 7 months and 6 days you would have produced enough souond energy to heat one cup of coffee.  (Hardly seems worth it)

If you farted consistently for 6 years and 9 months, enough gas is produced to create the energy of an atomic bomb.  (Now that's more like it.  My brother shall henceforth be known as Atomic Bob.)

The human heart creates enough pressure when it pumps out to the body to squirt blood 30 feet.  (I guess the special effects on Sparticus aren't so far fetched.)

A pig's orgasm lasts 30 minutes.  (O.M.G.!  Bravo Mr. Pig!)

The male praying mantis cannot copulate while it's head is attached to its body.  The female initiates sex by ripping teh male's head off.  (Honey, I'm home.  What the .....?)

Some lions mate over 50 times a day.  (I still can't believe that pig.)

Right handed people live, on average, nine years linger than left-handed people.  (If you're ambidextrous, do you split the difference?)

Elephants are the only animals that can't jump. (Okay, so that would be a good thing.)

A cat's urine glows under black light.  (I wonder how much the government paid to figure that out?)

An ostrich's eye is bigger that its brain.  (I know some people like that.)

Starfish have no brains.  (I know some people like that, too.)

Polar bears are left handed.  (If they'd switch, they'll live a lot longer.)

Humans an dolphins are the only species that have sex for pleasure.  (What about the pig?  Do the dolphins know about the pig?)

Enjoy that ham on Sunday.

Patrancus's picture

The charade continues

The charade continues, I have had a few toxic numbed minds mail to me this morning, "take me off your list" they have us right where they want us, drink filtered ionized water to detox your mind, body and spirit, then you will be able to see through the glass and remember to keep stacking

"the capacity of the human mind to reject the intrusion of information is infinite" 

Basil's picture

Dr G

Thankyou, good doctor.

I wish I had some pearls of wisdom to offer in return, but I'm afraid that "Happy Easter" will have to do !

Mudsharkbytes's picture

@waxybilldupp - not sure 'bout all them facts

I've never seen a jumping slug or snail - nor can slime molds jump.  Whales & other fish can leap out of the water, but whether or not that classifies as 'jumping' is another matter.  Now that I think of it, starfish can't jump either 'cause of their limited thinking ability.

I've read that the female mantis chows down on the male AFTER copulation and that particularly agile males have been known to escape and live to mate again, though it's uncommon.

Have a nice weekend!

Dr G's picture

Happy Easter to you as well!

Happy Easter to you as well!

obama-bunny-outfit.jpg

Bobbejaan's picture

@Atomic Bobbejaan

Quote:
waxybilldupp said :-

If you farted consistently for 6 years and 9 months, enough gas is produced to create the energy of an atomic bomb. (Now that's more like it. My brother shall henceforth be known as Atomic Bob.)

Thank you kindly, my brother .... I always wondered why my garden/plot looked like a bomb's hit it" devil

I Run Bartertown's picture

Divorce Court?

"particularly agile males have been known to escape and live to mate again, though it's uncommon."

New Train's picture

Thank Big Buffalo

Just used your code with Lear Capital. Worked great.

Thank you. 1 Gold Eagle flying my way.

Dr G's picture

(No subject)

adults_dont_believe_in_obama_200px.jpg

Straying From the Flock's picture

@Ink

The disappointing non-farm payroll numbers would have been interpreted as a bigger chance for QE3 in either April or June. Also it is a reason for risk-off and a flight to safety (hence the lower Dow futures and higher 10 year notes). Combine that with a touch of the US downgrade yesterday, although only by Egan Jone and a lower dollar index. Voila, you have rising gold prices.

Voila.  The magic word.  The whole system is sleight of hand.  Look over here(QE) while over here...

A dime a day will END the charade.

Stack faster.

RGD

SRSrocco's picture

TYPICAL RUBBISH FROM ORTHODOX MINDS

Shadow over silver fundamentals

Record-high mine supply and questions over demand have left a long shadow over silver's underlying fundamentals and make talk of a return toward the $50 mark harder to swallow.

Author: By Jan Harvey
Posted: Thursday , 05 Apr 2012
Silver bulls may be hoping that the metal's healthy first-quarter price rise is the first step back towards record highs. Not so fast.

Its advocates say silver, which occupies a middle ground between industrial metals like copper and investment vehicles like gold, can benefit both from the fledgling economic recovery that is lifting copper and from the investment that is driving gold.

But record-high mine supply and questions over demand have left a long shadow over silver's underlying fundamentals, while huge price volatility last year, when the metal crashed 35 percent in a matter of days on two occasions, has undermined its appeal to investors as a cheaper alternative to gold.

--------------------------------------------------

Here we can see that there is no shortage of ORTHODOX ANALYSIS.  This sort of analysis is what gets people in trouble when the world is no longer following an ORTHODOX PATH.  If a person has normal brain function as well as the ability to watch TV or read words on a page, then you have to understand that since 2008, EVERYTHING HAS CHANGED.

For analysts to come out with this sort of run-of-the-mill worthless garbage proves that humans shouldn't be running Nuclear Power Plants (a subject of another article).  Some would say that this article is part of a grand conspiracy to keep people from buying gold and silver.  Even though I would agree that there is conspiracy taking place in certain aspects of the precious metals markets, a great deal of this analysis is being done by individuals who CAN'T THINK OUTSIDE THE BOX.

This might become clearer when we look at this analogy:

The Fed & Bullion banks set up the takedown of gold and silver by dumping a large amount of contracts on the market all at one time.  Once this occurs, the algorithms take over and they do the majority of the damage.  The algorithms and the mainstream analysts provide the same function.  Some may be apart of the conspiracy, but most are just brain-dead followers who look at the information provided to them in a BABY SQUEEZE BOTTLE in which they respond by dropping a BABY TURD of an ARTICLE.  The folks at the top don't have to control everyone, just a few who MOUTH OFF.  These are dealt quite easily by THREAT, PINK SLIP, and DEFAMATION of character.

THERE IS NO SURPLUS OF SILVER

In my chart I show how the GFMS got their so-called surplus figures for silver.  I am regurgitating my own work, but sometimes it is appropriate to do so in LU of the rubbish written above.  Here is the formula used by GFMS to get their surplus/deficit figure.

(Mine Production + Silver Scrap) – (Fabrication - Coin & Medal) = Surplus/ Deficit

If we plug in 2010’s figures this is the result:

(735.9 + 215) = 950.9 – (878.8 - 101.3) = 775.5 = +175.4

GFMS has decided to take out COIN & MEDAL demand and list them as bullion demand.  They have decided to take out all the sales of 'Official Govt Silver Coins", such as Canadian Maples and Silver Eagles to name a few from the fabrication demand side of the equation.   They believe that this is really bullion that can come onto the market so they have subtracted it from their fabrication figures.

The majority of COIN & MEDAL comes from the "Official Govt Coins".  So the more of these coins investors purchase, the higher the surplus becomes.  Of the 175.4 million ounce surplus, 101.3 million were from COIN & MEDAL.  In 2011, I would imagine this number will be upwards of 125-135 million ounces.  Thus, GFMS will tell us that we will have another substantial surplus of silver in 2011.

Think about my line of reasoning here.  GFMS takes out COIN & MEDAL because they don't count it as demand, but rather they count it as bullion demand instead that could come back on the market.  Who in the living hell would sell their Maples or Eagles for melt?  Even if the public sold these back to a dealer, 99 to 1, the dealer will resell these to someone else before he sends them to melt.

Furthermore, part of the total supply comes from OLD SCRAP SILVER.  In 2010, this was 215 million ounces.  The majority of this silver scrap came from recycled industrial silver.  GFMS has done the mother of all accounting follies.  It is not COIN & MEDAL that is recycled back into the supply.....but mostly industrial FABRICATION.  To make the figures more logical, they should keep Coin & Medal in their demand figures, and subtract a percentage of supply which is mostly recycled industrial silver.

Even with this so-called surplus, you will notice that the price of silver has risen right along with their so-called surplus.  It has been investment demand that has pushed the price higher and not industrial demand.

GFMS AND THEIR SLIGHT OF HAND

Now that we know how GFMS (Gold Fields Mineral Services) manipulates their surplus/deficit figures, here is how they have UNDERSTATED what they label as Implied Net Investment.

Demand
Fabrication                    
Industrial Applications 349.7 355.3 368.4 387.4 431.8 454.2 491.1 492.7 403.8 487.4
Photography 213.1 204.3 192.9 178.8 160.3 142.2 117.6 101.3 79.3 72.7
Jewelry 174.3 168.9 179.2 174.8 173.8 166.3 163.5 158.3 158.9 167.0
Silverware 106.1 83.5 83.9 67.2 67.6 61.0 58.5 57.1 58.2 50.3
Coins & Medals 30.5 31.6 35.7 42.4 40.0 39.8 39.7 65.4 79.0 101.3
Total Fabrication 873.6 843.5 860.1 850.6 873.6 863.5 870.3 874.7 779.2 878.8
Producer De-Hedging 24.8 20.9 6.8 24.2 11.6 22.3
Implied Net Investment 3.6 29.1 55.9 53.2 12.5 18.2 120.7 178.0
Total Demand 877.1 868.3 881.0 879.7 929.5 923.5 907.0 904.5 922.2 1,056.8

(courtesy of the Silver Institute)

If we look at their 2010 column we will see that Implied Net Investment shows a total of 178 million ounces.  If we look close at the column, we will see something rather peculiar.  That 101.3 million ounces that is counted as FABRICATION here is not counted as INVESTMENT below.  If we would assume that the majority of Coin & Medal is "Official Govt coins", then we have about 90-95 million ounces worth of these coins.  If we add that to the Implied Net Investment we would get:

178 + 90-95=   268-273 million oz of IMPLIED NET INVESTMENT

and not the lousy 178 that they have in their figures.  Here we can see that GFMS has a nice way to RAISE and LOWER figures to make things look quite different than they really are.  What they have done is subtract bullion demand (coin & medal) to make the surplus looking bigger, but did not add it to Implied net investment, which makes it look smaller.

All I can say about the article above... WHEN THE GREAT CULLING COMES.... these sort of individuals will have no clue as to what to do.

Igiveup2's picture

I always knew it

Turd is one of em!

Magpie's picture

Still have a landline?

http://www.reuters.com/video/2012/04/05/reuters-tv-att-verizon-try-to-put-end-to-landline-t?videoId=232950327&videoChannel=117772

(if I believed in the NWO, Big Brother, and that new facility in Utah, I'd be thinkin' "they" might still need a warrant to tap a landline.........but WTFDIK?)

Argyrocatharsis's picture

Patience ....it's coming soon enough...

ENJOY the Refiner's Touch........

The Refiners Touch

There was a group of women in a Bible study on the book of Malachi.  As they were studying chapter three they came across verse three which says, "He will sit as a refiner and purifier of silver." This verse puzzled the women and they wondered what this statement meant about the character and nature of God.

One of the women offered to find out about the process of refining silver and get back to the group at their next Bible study. That week the woman called up a silversmith and made an appointment to watch him at work. She didn't mention anything about the reason for her interest in silver beyond her curiosity about the process of refining silver. As she watched the silversmith, he held a piece of silver over the fire and let it heat up. He explained that, in refining silver, one needed to hold the silver in the middle of the fire where the flames were hottest so as to burn away all the impurities.
Silver smith putting heat to a silver bowl

 

The woman thought about God holding us in such a hot spot - then she thought again about the verse, that He sits as a refiner and purifier of silver. She asked the silversmith if it was true that he had to sit there in front of the fire the whole time the silver was being refined. The man answered that yes, he not only had to sit there holding the silver, but he had to keep his eyes on the silver the entire time it was in the fire. For if the silver was left even a moment too long in the flames, it would be destroyed.

The woman was silent for a moment. Then she asked the silversmith, "How do you know when the silver is fully refined?"  He smiled at her and answered, "Oh, that's the easy part -- when I see my image reflected in it."

If today you are feeling the heat of the fire, remember that God has His eye on you and will keep His hand on you and watch over you until He sees His image in you.

AUTHOR UNKNOWN

Enjoy the Weekend smiley

JY896's picture

Anyone else seeing this Easter egg in the sidebar as an ad?

maguire-ad.png

Happy Easter to all. While egg hunts are not quite as adventurous as pirate treasure map quests, some shiny in the hidden faux fowl eggshell may very well be on the agenda.

I Run Bartertown's picture

Feds Hate Sheriffs

Sheriffs can tell them to GTFO of the County, use a SWAT team to move them along, and form up a Citizen's Posse to root out any stragglers.

Sheriffs' stand against various Federal abuses including implementation of the UN's Agenda 21 and the US Federal .gov Travel Management Plan.

http://www.countysheriffproject.org/

http://constitutionalsheriffs.com/

erikbenz's picture

Land Line Phone

I think the issue isn't so much a wired land line vs. an unwired cell phone as it is traditional analog / digital hybrid switch telephone service vs. VoIP. The cost involved in the two technologies is vastly different as far as infrastructure and regulation are concerned. Not to mention the universal lifeline surcharge tax which is mostly paid by Verizon and AT&T but mostly benefits smaller carriers.

Bottom line is there are MANY issues driving this change.

Erik

recaptureamerica's picture

The hat would stand out

The hat would stand out better if yellow..just sayin.

berkshire888's picture

King World News Site

Anybody have any idea how many hits the KWN site gets per day? It would be interesting to know the number of unique readers per day. Many thanks.

The man who stole a leopard's picture

RE: King World News Site

Alexa traffic rank for KWN (with TFMetalsReport for comparison). 

JOIN US NOW IS LEGENDARY TRAFFIC ANALYSIS SITE ALEXA....

More info at: http://www.alexa.com/siteinfo/kingworldnews.com

Silver for the same time period...

York Rite's picture

KWN

I wasn't best pleased to see the dreaded metal trader emerge there again yesterday.
 
Every one of that entity's four previous appearances there signalled PM hammerings soon afterwards. If number five transpires within the next week then coincidence theorists might shrug but I'll be screaming outright disinformation.
 
Incidentally, today marks the seven month anniversary of gold's all-time high.
I Run Bartertown's picture

What have we here?

On a recent thread, someone here decried the 'liberal bashing' and posted an emotional indictment of the "other side of the coin". In fine lib fashion (Loughner, etc.) they sought to capitalize on a "hate crime" and indict our 'backward and hateful xenophobic' ways. Like it almost always does, it turned out just a bit different:

"Was 'One Million Hijabs' victim killed by her OWN family? Daughter and husband linked to 'race-hate' slaying of Iraqi found dead in Californian home"

http://www.dailymail.co.uk/news/article-2125811/Shaima-Alawadi-murder-Authorities-eye-pending-divorce-troubled-relationship-teen-daughter-murder-Iraq-born-mother.html#ixzz1rHyWvASs"

I don't feel like searching back to see who it was, but in honor of only seeing this in UK media, I'll close with -------- Piss Off Wanker!

boatman's picture

liberal bashing huh

there is nothing even remotely close to a 'ron paul'  or 'sound money' candidate from the left.

socialists believe in centrally planned EVERYTHING.

but don't think i'm sticking up much for the right......except for ron.

next president gets the blame for the BIGBADABUST no matter who he is.

Honest_Money's picture

Watch Bylthe's body language

When asked about manipulation she closes her eyes, looks down and away, then at the end nods her head up and down as if to say, "Yes, we manipulate markets" and finishes with a smirk.  If I was her, I couldn't say that BS with a straight face either.

I Run Bartertown's picture

OMG

"Maryland Department of Natural Resources (DNR) is offering $200 gift cards through Bass Pro Shops to residents who capture and kill an invasive species from Africa that is upsetting the natural order of the local ecosystem."

.

*

^

$

@

!

.

?

http://news.yahoo.com/blogs/sideshow/maryland-offering-200-gift-cards-dead-snakehead-fish-163943568.html

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