Disinformation & Deceit

Monday, August 6, 2012 at 10:58 am

Things are getting curiouser and curiouser...

By now, I would imagine that nearly everyone has seen this: (http://www.zerohedge.com/news/libor-may-be-manipulated-silver-not-cftc-conclude). I was sitting here in the TurdCave yesterday afternoon when I saw the original FT story cross the wires. Note the time stamp was exactly 5:00 pm EDT (NY time). Hmmmm. Isn't that interesting? On the next link, you can see that pre-open, electronic trading begins at exactly 5:00 pm NY time, as well. (http://www.cmegroup.com/trading_hours/). Again, hmmmm. I'm sure that's just a coincidence.

Then, when ZH picked up the story, word quickly spread. What was going on here? Who are the "three sources" who divulged this information? Well, our friend The Doc got right on it and quickly found out that it wasn't Bart Chilton (http://www.silverdoctors.com/bart-chilton-ft-report-that-cftc-to-drop-silver-investigation-is-inaccurate-premature-there-have-been-devious-efforts-to-move-price-of-silver/) and several other, industrious Turdites reported receiving similar responses to their inquiries.

So, what are we to make of all this? It would seem that we are left with these possibilities:

  1. The story is true and accurate and the CFTC silver investigation will soon close with nothing done.
  2. The story is inaccurate and is simply shoddy reporting by the crew at the Financial Times.
  3. The story is inaccurate and was deliberately placed in order to influence a certain outcome. Rationale for this ranges from: a) An attempt to initiate another Sunday Night Massacre, b) An attempt to draw in additional SpecShortSheep in advance of lower margins today, c) An attempt to influence the CFTC to conclude the investigation ahead of "schedule" in September, d) An attempt to influence the civil court into dismissing the class action suits against JPM, e) anything else you can think of.

I look forward to reading what everyone thinks and am open to other ideas/theories.

So far, the report has had little impact on price as both metals are currently UP basis the close on Friday. Imagine that!...Gold UP on two, consecutive days. That must be some kind of record. Regardless, the charts are looking increasingly positive and strongly suggest that The Bottoms are in and that a breakout beginning of a new trend is imminent. Be right, sit tight and you will be rewarded.

OK, I'm going to stop there for now because it's already 11:00 EDT and I need to get this posted. Please stay strong. We are entering a critical phase and now is not the time for weak knees. We are all on the right side of history and vindication will soon be ours. More later today or this evening.

TF

Comments

LongGoldLongSilver's picture

It would be better if they

Submitted by LongGoldLongSilver on August 6, 2012 - 10:58pm.

It would be better if they just closed the investigation completely since it's such a joke anyways...come on, 3-4 years and nothing to show for. Better to end the little hope out there that authorities are going to take our side and keep the markets fair. They never will, so I would love if they just dropped the case now rather than in another 2 years. Maybe a few more would stop waiting for findings that will never come and instead start stacking...

http://www.miningstockvaluator.com

tyberious's picture

Worth 5 minutes

Submitted by tyberious on August 6, 2012 - 11:01pm.

Carl Sagan - You Are Here (Pale Blue Dot) [Sagan Time]

http://www.youtube.com/watch?feature=player_embedded&v=4PN5JJDh78I

small_potatoes's picture

Any one know what this is about?

Submitted by small_potatoes on August 6, 2012 - 11:18pm. 
CAC001-070345-

URGENT - IMMEDIATE BROADCAST REQUESTED
SHELTER IN PLACE WARNING
CONTRA COSTA HEALTH SERVICES
RELAYED BY NATIONAL WEATHER SERVICE SAN FRANCISCO BAY AREA
738 PM PDT MON AUG 6 2012

SHELTER IN PLACE

THE FOLLOWING MESSAGE IS TRANSMITTED AT THE REQUEST OF THE CONTRA
COSTA HEALTH SERVICES.

THIS IS A MESSAGE FROM CONTRA COSTA HEALTH SERVICES. THERE IS AN
EMERGENCY AT CHEVRON REFINERY.

RESIDENTS IN RICHMOND. NORTH RICHMOND AND SAN PABLO. ARE ADVISED
TO SHELTER IN PLACE. GO INSIDE. CLOSE ALL WINDOWS AND DOORS. TURN
OFF ALL HEATERS. AIR CONDITIONERS AND FANS. IF NOT USING THE
FIREPLACE. CLOSE FIREPLACE DAMPERS AND VENTS. AND COVER CRACKS
AROUND DOORS AND WINDOWS WITH TAPE OR DAMPED TOWELS. MEDIA NEWS
NETWORKS WILL CONTINUE TO CARRY UPDATED EMERGENCY INFORMATION.
STAY OFF THE TELEPHONE UNLESS YOU HAVE A LIFE THREATENING
EMERGENCY.
napa698's picture

@small spud

Submitted by napa698 on August 6, 2012 - 11:31pm.

Chevron's Largest California Refinery "Immediate-Extreme-Health-Hazard" Fire

Emergency

Submitted by Tyler Durden on 08/06/2012 - 22:17

UPDATE: *CHEVRON RICHMOND REFINERY HYDROCRACKER EXPLODED: KPIX-TV, REFINERY SHUTDOWN, CAN PROCESS 244,000 BBL/DAY

Chevron's Richmond refinery, the largest refinery in California, is under a Level 3 Hazardous Material extreme immediate warning with local authorities advising local citizens to "to shelter in place, go inside, close all windows and doors, turn off all heaters, air conditioners and fans. If not using the fireplace, close fireplace dampers and vents, and cover cracks around doors and windows with tape or damped towels." As KTVU2 comments, it appears massive and out of control currently. Live KRON4 stream embedded below.

  • *2 DISTINCT PLUMES OF SMOKES OBSERVED EMITTING FROM CVX REFINERY
  • *CHEVRON SPOKESWOMAN SAYS NOT SURE WHAT CAUSE OF FIRE IS :CVX US
  • *CHEVRON RICHMOND REFINERY HAS EVACUATION ON EMISSIONS
Dr Jerome's picture

too weird

Submitted by Dr Jerome on August 6, 2012 - 11:47pm.

Bernanke wants to measure how happy Americans are. Ben, really? Are you going to try to convince us that we should be happy with poverty next, cause that is where you are centrally planning for us to be!

His speech Monday was the latest foray into a relatively new specialty in economics known as "happiness studies." Bernanke attracted widespread notice when he spoke about the economics of happiness in a May 2010 commencement address at the University of South Carolina.

In that speech, he said research has found that once basic material needs are met, more wealth doesn't necessarily make people happier.

"Or, as your parents always said, money doesn't buy happiness," Bernanke said then. "Well, an economist might reply, at least not by itself."

http://economywatch.nbcnews.com/_news/2012/08/06/13148811-ben-bernanke-h...

Dagney Taggart's picture

Statute of Limitations?

Submitted by Dagney Taggart on August 6, 2012 - 11:50pm.

Is there a statute of limitations regarding how long the CFTC has to do whatever it is they are "supposed to be doing"?

Physical_only's picture

Damn I have friends

Submitted by Physical_only on August 6, 2012 - 11:50pm.

That work for Chevron in Richmond. One is a Head Engineer. Just Emailed them. Fingers crossed.

Dagney Taggart's picture

@ Dr J

Submitted by Dagney Taggart on August 6, 2012 - 11:54pm.

Be complicit to and outright commit financial crimes to get people to accept the New World Ord..., oops, I mean a Zero-Growth Utopia elitist wet dream. Yea, that'll work considering the millions in student load debt sitting in front of him.

Prize Fighter's picture

You guys should check out

Submitted by Prize Fighter on August 7, 2012 - 12:29am.

You guys should check out BrotherJohn's chart in his latest video.  Very interesting chart setup of silver/dollar.  Both are against respective support/resistance trendlines.  Given all that is going on right now with markets halting, firms collapsing, leaks leaking, this is just another clue that decisive direction looks imminent.

Karankawa's picture

Is there a statute of limitations?

Submitted by Karankawa on August 7, 2012 - 12:30am.

Dagney, I think the only statute of limitiations with anything in power now is reality.  Reality never sleeps, has no emotions, doesn't watch TV, and allows everything to get out of hand, until it's been ignored long enough.  At some point the illusion people are used to vaporizes.

Education of the cause, is the answer.

It will eventually be exposed and the rebuilding on truth and respect will commence.  Until then, the best that can be done is to educate ourselves and our neighbors and prepare accordingly.

The bad guys have a dream, and reality isn't part of it.  This has played out before and Reality always wins. 

But, while freedom and respect always win, the immediate question is how bloody things have to get first. 

When people understand where their destruction came from they will stand up against it when it comes, even though they will defend it until the event happens. 

I appreciate this site because it is helping people understand.  Even though I've been looking at reality for a very long time, I learn things here, and occasionally I try to contribute.

Karankawa

Missiondweller's picture

@physical

Submitted by Missiondweller on August 7, 2012 - 12:39am.

All employees had been accounted for and there were no fatalities, but one refinery worked suffered burns that were not life-threatening.

Physical_only's picture

@Missiondweller

Submitted by Physical_only on August 7, 2012 - 12:44am.

Thanks so much.....

Karankawa's picture

Prize Fighter on August 7, 2012 - 12:29

Submitted by Karankawa on August 7, 2012 - 1:20am.

Excellent post by Brother J.

Thanks,

Karankawa

S Roche's picture

BIS & The Nazis

Submitted by S Roche on August 7, 2012 - 1:25am.

From Jesse...

http://jessescrossroadscafe.blogspot.com.au/2012/08/bbc-banking-with-hitler.html?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed:+JessesCafeAmericain+(Jesse's+Caf%C3%A9+Am%C3%A9ricain)

Includes The Chase Bank, Westminster Bank and Barclays co-operation with the Nazis and the BIS acting to finance the Nazis, to the extent of stock-piling valuables stolen from concentration camp victims. After the war the Treasury officials who investigated them were sidelined or destroyed by the House Un-American Activities Committee.

Sobering...never doubt that these people will do absolutely anything, because they have done it before.

The Watchman's picture

How can anyone trust "PAPER" markets?

Submitted by The Watchman on August 7, 2012 - 1:30am.

Is anyone starting to notice that we get a commodity brokerage firm implosion whenever there is a large delivery month in Gold and/or Silver?

October 2011 Gold - MF Global

July 2012 Silver - Peregrine Financial Group

August 2012 Gold - Knight Capital Group
 

ivars's picture

GSR continuing to aim for a

Submitted by ivars on August 7, 2012 - 2:03am.

GSR continuing to aim for a turnaround. May be its better that it happens slowly at this stage, and accelerates later. 

Hillsie's picture

FT Article

Submitted by Hillsie on August 7, 2012 - 6:24am.

Anyone have the email of Jack Farchy who wrote the FT article?  Shoddy reporting at best blatant propaganda more likely.....

koan's picture

Impressive visualisation...

Submitted by koan on August 7, 2012 - 7:09am.

...of imports and exports of small arms and ammunition:

http://workshop.chromeexperiments.com/projects/armsglobe/

Hrunner's picture

Gold Audit- Was this picked up yet on TFMR?

Submitted by Hrunner on August 7, 2012 - 7:11am.

My spidey sense says this is (per usual) under-reported but very important:

What's in your vault? Uncle Sam audits its stash of gold at the New York Fed

The gold audit is a first for the institution and includes drilling into several hundred ingots. It could put the conspiracy theories to rest.

By Andrew Tangel, Los Angeles Times

August 2, 2012, 4:16 p.m.

NEW YORK — For decades, the U.S. government has stashed gold five stories beneath Manhattan in a vault under the Federal Reserve's fortress near Wall Street.

Or has it?

Some conspiracy theorists suspect that the billions of dollars' worth of bullion might have been looted in a dramatic heist, a la the movie "Die Hard: With a Vengeance." Others claim that the gold has been used in a shadowy government transaction, or swapped with gold-painted bars. It's even caught the attention of politicians like Rep. Ron Paul and members of Germany's Parliament.

Now all of us may finally get some answers.

The federal government has quietly been completing an audit of U.S. gold stored at the New York Fed. The effort included drilling small holes in the bars to test their purity.

The Treasury Department has refused to disclose what the audit has revealed so far, saying the results will be announced by year's end. But as one former top Fed official said recently, the testing may finally prove that "Goldfinger didn't sneak in at night" and take the gold.

"The calls for audits are saying, 'We don't trust the government for the last 200 years,'" said Ted Truman, a former assistant Treasury secretary and Fed official. He called perennial questions about the country's reserves "the gold bug equivalent of the birther movement."

The Treasury's auditing operation, including drilling, is a first for the New York Fed. The department's inspector general previously audited and tested only gold it keeps under heavy guard at Ft. Knox, West Point and the U.S. Mint in Denver. These three locations hold 95% of the country's bullion.

In New York, about $21 billion in U.S. gold is locked inside the Fed's vault. It's stored alongside bullion from three dozen other countries and organizations such as the International Monetary Fund. All told, about 23% of the world's official gold reserves are stored in the central bank's vaults.

The audit, which began in January, took place 80 feet below the Fed's limestone and sandstone Italian Renaissance building in Manhattan's financial district. Visitors to the vault make their way through a steel and concrete entrance where a 90-ton door rotates open.

Inside, a massive scale is ringed by 122 blue cages that hold about 530,000 gold bars — 34,021 of which belong to Uncle Sam. The auditing team counted the U.S. stash, selecting more than 350 bars from which to extract samples for assaying.

The process involved about half a dozen employees of the Mint, the Treasury inspector general's office and the New York Fed. It was monitored by employees of the Government Accountability Office, Congress' investigative arm.

The bars were first weighed on a small electronic scale, then transferred to a table mounted with a long, thin drill used to burrow into the gold, said a person familiar with the operation who was not authorized to speak publicly.

Workers were careful to collect any stray gold bits, the source said. Based on the market price of about $1,600 per troy ounce, the Treasury removed more than $110,000 worth of gold samples.

A Mint spokesman said about 1 to 1.5 grams of each sample is destroyed in the assaying process, with the remaining granules returned to the government.

The New York Fed refused to comment.

The final results still might not satisfy some. Paul, the Texas Republican and presidential contender, wants an independent audit of all U.S. gold.

In 1981, when Paul was on the Gold Commission — a panel set up by Congress to explore expanding gold's role in the U.S. monetary system — he argued for full gold audits every year. He has pitched legislation for an exhaustive examination of the country's gold that could cost as much as $60 million.

"If the gold is there and everything is in order, they should welcome an audit," Paul said in an interview.

He said he doesn't suspect that anyone has replaced the gold bars with fakes. He's more interested in examining paperwork that would show whether the gold has been used in any transactions that were never disclosed to the public, such as loans to other governments.

 
The timing seems very curious to me.  Explanations may include:
 
A.  Standard op procedure, we are just now learning about this process
B.  They are worried that the audit the fed will pass, and are preparing for it
C.  Discovery of fake /adulterated gold bars in other vaults has raised fears
D.  They are preparing for a gold-backed system
 
I'm voting for B now, but D if true would be important (B and D not mutually exclusive)
 
source: http://www.latimes.com/business/la-fi-gold-bars-20120803,0,5461335,full.story
H 
opticsguy's picture

Looks like a 4th mandate for the Fed

Submitted by opticsguy on August 7, 2012 - 7:13am.

1.  Control inflation

2. minimize unemployment

3.  prop up stock market, especially the R2K

4.  maintain a high level of happiness as the plebes' wealth is stolen from them.

Patrancus's picture

Guten tag

Submitted by Patrancus on August 7, 2012 - 7:22am.

http://www.dailymotion.com/video/x2uv39_high-flight_shortfilms

recaptureamerica's picture

How Does it all

Submitted by recaptureamerica on August 7, 2012 - 7:31am.

How Does it all End?
http://zen-haven.dk/how-does-it-all-end/

Good article..

recaptureamerica's picture

Signs of America's second

Submitted by recaptureamerica on August 7, 2012 - 7:43am.

Signs of America's second Great Depression
http://www.presstv.ir/detail/2012/08/06/254694/signs-of-us-second-great-...

Signs, signs, everywhere signs...

recaptureamerica's picture

Rice Hoard Offers World

Submitted by recaptureamerica on August 7, 2012 - 7:48am.

Rice Hoard Offers World Respite As Food Costs Surge: Commodities
http://www.bloomberg.com/news/2012-08-06/rice-hoard-offers-world-respite...

Idk, seems like another finger in a bursting dam..i just hope its not the finger doing a prostate exam

Bum in the library...'s picture

BOOM!

Submitted by Bum in the libr... on August 7, 2012 - 8:39am.

there went silver.  what happened?

ivars's picture

BOOM- FED is openly pointing to new QE

Submitted by ivars on August 7, 2012 - 8:42am.

Rosengren.

Bollocks's picture

"FED is openly pointing to new QE"

Submitted by Bollocks on August 7, 2012 - 8:49am.

Where ivars? Got a link?

Monedas's picture

The Guillotine Is Obsolete !

Submitted by Monedas on August 7, 2012 - 8:50am.

Monedas is working on a portable version that for all the world looks like a giant cigar cutter !   It's powered by a "Cherry Bomb" and piston mechanism !            Monedas        1929         Comedy Jihad Science In The Public Interest      devil

murphy's picture

Bullocks

Submitted by murphy on August 7, 2012 - 8:53am.
Bum in the library...'s picture

I heard something too

Submitted by Bum in the libr... on August 7, 2012 - 8:53am.

not Bernanke but someone else was out saying the Fed will take action or start purchasing assets I believe...  I was half paying attention

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