Three Years On and Things Are Only Getting Worse

205
141
Fri, Jul 8, 2011 - 8:46am

The Shill, The Coug and LIESman are "stunned" and "shocked" this morning at the lousy, awful and horrible BLSBS report. Really? Really?? Come down from your ivory towers and visit Main Street every once in a while you dopes! Utterly clueless, status quo, inside-the-box thinking.

I sure hope that, by now, none of this surprises any of you. The U.S. economy stinks on ice and it will continue to. What does this mean?

1) Tax receipts at the federal, state and local level will continue to decline.

2) Politicians will try to raise taxes which will only exacerbate the economic malaise.

3) Government debts at all levels will grow at an increasing pace.

4) THE ONLY FUNDING/SERVICING OPTION IS DEBASEMENT OF THE CURRENCY VIA QUANTITATIVE EASING (MONEY PRINTING).

5) The ultimate impact will be unprecedented global insecurity and upheaval.

We are here to help each other and warn others. There is still time but the sand is nearly drained from the hourglass. Protect yourself and your family while you still can. TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()
Does Feb19 Comex gold close above $1250 on Friday?
YES
77%
NO
23%
Total votes: 191

  205 Comments

Shill · Jul 8, 2011 - 8:50am

Gold

Gold says " We don't need no stinking JOBS!!!

SilverWealth · Jul 8, 2011 - 8:51am

CNBC

They need to pull the plug on this ministry of propaganda outfit. IT will probably be just the opposite though, they will keep them on the air even when the viewership falls to 10 people. Like Goebels blaring thru the streets of Berlin as the bombs were falling in 44-45'.

flaunt · Jul 8, 2011 - 8:53am

Turd, how do you think this

Turd, how do you think this will affect metals prices? It appears gold is getting a safe haven bid while silver is still being traded more as a commodity. Does this guarantee QE3 in August?

Throwing Sliver Hammers · Jul 8, 2011 - 8:55am

Amen

Keep Stacking PHYSICAL Silver

SilverWealth · Jul 8, 2011 - 8:58am

alert on Gold

I will be careful on this spike close to highs in Gold. I know what tends to happen everytime Gold does this. The Empire comes in and massively shorts it. Will trail my stops now. I anticipate once again a full scale onslaught on its price. I would be delighted to see otherwise but at least in the Globex this promises a counterattack.

Everytime Gold spikes high and close to 'breakout' when all the momentum traders get excited they hammer the price. Is this time different?

flaunt · Jul 8, 2011 - 8:59am

To my man, flaunt

Flaunt you've been around here long enough to know that "QE Can't and Won't Ever End". August, September...it doesn't matter. It will continue. There are NO OTHER OPTIONS.

Marlon Brando · Jul 8, 2011 - 9:02am

Totally weird that Gold

Totally weird that Gold surges at a higher percentage than silver. They are capping silver by selling into the rally I have to conclude. 

Piece of Gold - Peace of Mind · Jul 8, 2011 - 9:02am

Birth Death model adjustment

Birth Death model adjustment added 131K jobs in June, so the 18K jobs added really was worse than it looks. 

flaunt TF · Jul 8, 2011 - 9:03am

:)  Yes I know QE will never

:) Yes I know QE will never end... I'm just foolishly trying to time some swing trades and thinking Jackson Hole in August will prove to be when the bearded clam unleashes another round.

paulindoon · Jul 8, 2011 - 9:04am

ALL analysists were wrong

What really struck me with the report just out is that ALL (way over paid) economist were wrong as actual 18K versus lowest expectations of 105K really shows how worthwhile it is to pay attention to all these well educated economists.

Well as TF wrote, we have each other to help & share our knowledge with.

And yeah, keep stacking that physical.

SilverTree · Jul 8, 2011 - 9:09am
SilverWealth · Jul 8, 2011 - 9:11am

volatility

Just my opinion but due to volatility in Gold and criminal racketeering in its price behavior it is important to buy dips and sell spikes. At least that is what I am doing. I would love to see Gold run to 1600 today but I seriously doubt the racketeers will allow that in the short term. Buy the fear, sell the euphoria and the momentum upside. But that is just me.

Shill · Jul 8, 2011 - 9:15am

Yup

Cleburne61 · Jul 8, 2011 - 9:19am

TF, thanks for this

TF, thanks for this invaluable site, and your taking the time to do this for us. We know that you're under no obligation to any of us, and that at any time, you could walk away. We're thankful you don't.

P.S.-Looking at the charts, it's entirely possible that the doldrums some of us expected, could've been a mere 5 days long this time around. We shall see...

illyasviel · Jul 8, 2011 - 9:19am

Atleast the price changes

Atleast the price changes make sense today, USD down, EUR/USD up and Silver following gold somewhat. It's been the other way around some days :)

But what do we make of this? Did people just realize that the USD is worthless and everyone is moving to paper gold or will we see another big dip in silver tonight/tomorrow due to the EE raiding etc?

SilverWealth · Jul 8, 2011 - 9:21am

jobs report

I wonder in my little brain if the banksters didn't already know this job report when they loaded up long on the last COT report and removed so many of their shorts? There would have been any illegal insider peeking at reports from across the hall and into the neighboring cubicle would there? Not in America. No way. We should feel confident in the Chinese wall that separates industry from government.

FriedEggs · Jul 8, 2011 - 9:21am

The Writing is on the Wall...

Hey Turdidians...

I know, i know - but its hard not to get a wee bit excited...especially when just two weeks ago some T's were getting so easily depressed...becuase of the PMs summer decline.

Alas - the regular vast sheeple are not in tune - and now that Big Brother Season 13 started last night - that will occupy the sheep 3 nights out the week. 

In Canada, the prime time news for the past week is showing the majority of the air time - Will and Grace's tour of Canada...

Keep stackin boys and girls...

Someone please post a youtube video of Olivia Newton John - 'Lets get physical' ...physical...i wanna get physical...I remember a preteen growing up to that video... ;-)

Fried(e)

Mickey · Jul 8, 2011 - 9:21am

may jobs

revised down from plus 58 to plus 25

with birth death the plus 18 becomes minus 15, minus the BD bullstuff.

There was once a time (I am in my 60's) when you saw govt data and assumed it to be mostly correct and honest. Now you look to see if it might be correct.

Monedas · Jul 8, 2011 - 9:22am

Countdown on Space Shuttle and New Deal !

Which is the bigger example of Government gone mad ? Monedas 2011 Why don't they launch Keynes' cadaver into space along with a bust of FDR ?

tmosley · Jul 8, 2011 - 9:23am

Makes my coming drill

Makes my coming drill (starting a week from today) take on a bit more urgency.

I would urge everyone reading this to consider joining me in testing your preparations. This first one is fairly easy, a relatively low level hyperinflation. I'm planning to hold more as time goes on, with differing scenarios. I would love for more people to get involved, and suggest your own ideas for what could happen, and how it can be simulated in a drill.

Edit: forgot the link: https://www.tfmetalsreport.com/forum/1239/drill-time

wrs · Jul 8, 2011 - 9:29am

Gold is the anti dollar play today

Looks like the dollar wants to visit 74 and gold will flirt with 1560 again today. My bet is a record high close for gold today.

Violent Rhetoric · Jul 8, 2011 - 9:29am

13 weeks of jobless claims

13 weeks of jobless claims >400k and still the Bloomberg survey called for +132k on Private payrolls (actual +57k) and +105k on Nonfarm (actual +18k).

I want some of what the survey participants are smokin'

HappyNow · Jul 8, 2011 - 9:29am

QE will be restarted.  It

QE will be restarted. It must be. The timing is a matter of months.

If you are a trader then timing matters.

If you are preparing for the end of the great Keynesian experiment then time is on your side and the particular month won't make a difference.

bobby · Jul 8, 2011 - 9:30am

Bachmann on CNBC this AM

has anyone else noticed her eyes?

I have seen that before, but it was after several days in a row of sustained, intense enemy contact. She might just burst into a big ole plate of Missy Meatballs.

Larry · Jul 8, 2011 - 9:31am

Giant Door Closing

DPH and CaLawyer, I second BayofPigs. Good stuff on the last blog.

Can't help but add that we must not buy into the 'Barry is an Ivy League intellectual' meme we get from MSM (asyou guys know and DPH pointed out). Every day he proves how inept he is at everything but reading a teleprompter and getting to the golf course on time. Peel back Barry's onion a bit and find he is but a wind-up doll for the banking Cartel.

Get to the core of the man and I have no doubt we would find that he is not motivated by "fairness", liberal ideology, fiscal responsibility, or anything else except ego. He's probably not even a purposeful Fascist like he comes across and demonstrates every chance he gets.

Peeling the PresBO onion back causes more than tears. Hard to know what to expect from someone who is hell bent on doing everything he can to win the favor of The Cartel to boost his own power, greed and ego. Narcissist in Chief may turn on a dime if the Cartel decides to play razzle-dazzle like they do with the market manipulation.

PresBO is not about leading the nation, he is about being secretly led while lecturing the nation. Washington is not about following the Constitution, balancing the Federal budget or protecting our freedom. They just want to be reelected. The military is not about protecting America, they have been coopted/duped into being TPTB enforcers and commodity grabbing mercenaries. The Fed is not about saving the economy or the currency, they want all of the money. TPTB is not about a New World Order, they want total control of world assets... including human assets.

At this time, with everything that we see, hear and talk about here, there is a giant door closing on the middle class. Many/most of the wealthiest, the elitists and the politically powerful are in line with TPTB to eliminate the opportunities for anyone not yet in the "club" to gain wealth. They will do this with laws, regulations, taxation, theft and marshal law. They will disguise this from the sheeple with MOPE, obfuscation, political theater and outright lies. Small and mid-sized businesses are being crushed with rising overhead, red-tape out the wazoo and diminishing profits. 

As depressing and infuriating as it all is, there is a gold and silver lifeboat for comparatively few. How many citizens out of a hundred know about it? How many have done anything about it?

On a completely unrelated matter: I think Ron Paul just snatched defeat from the jaws of possible victory... or at least from being taken seriously and getting his fiscal agenda heard. While a Paul victory against the Cartel, the MSM muppets and the Oligarchy of R's and D's was already all but impossible, he has wandered off into attacking a marijuana windmill with none other than Barney Frank. Whether you feel pot should be legalized or not, this side show will undermine his support from so many conservative, Christian and mainstream people that I fear his "wacky" label will be trotted out (again)... which will undermine his efforts to audit the Fed. What was he thinking? Sigh...

¤ · Jul 8, 2011 - 9:34am

SHTF Reality Today>9.2% and Rising

I'm sensing the same things that TF just stated above.

There is nothing of value I can add except that I'm a bit more alarmed today then I was yesterday. This is a MSM SHTF reality moment. Just watch the talking heads stammer their way out of these NFP numbers and the unemployment rate. The White house should have a somewhat amusing spin on this at some point. 

How will they try to MOPE this today? At this point, I'm expecting them to do something pretty dramatic to distract the market or they might put some full press stealth QE type market steering at some point today....11:00a.m.? We all know that if the markets were left to their own devices that the market would have tanked or will tank without any fresh money. The Fed will have the EE send out the plunge protection team.

I'm a bit suprised silver didn't get that much of a bump this a.m. after the news. $.50 wasn't bad, but it's still early.

tpbeta · Jul 8, 2011 - 9:35am

Whipsaw or break-out?

I still say Whipsaw and we will bounce off $39. Anyone say break-out?

stepman SilverTree · Jul 8, 2011 - 9:35am

lol

@SilverTree

Is that all the gold you have?

wrs · Jul 8, 2011 - 9:35am

Hah, the wacky ones are the

Hah, the wacky ones are the conservative christians, they are out of touch with reality. Paul makes good sense.

SilverTree · Jul 8, 2011 - 9:36am
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