Three Years On and Things Are Only Getting Worse

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.


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

turd [at] tfmetalsreport [dot] com ()


Jul 8, 2011 - 2:54pm

Bob Chapman says in this

Bob Chapman says in this radio interview that the reason the PMs were not attacked today & this week is because of the Rico suit filed last week:

Jul 8, 2011 - 2:56pm


Take a real CLOSE look at your volatility chart... the volatility starts AFTER the SECOND CONSECUTIVE margin hike in one week (April 25th and April 28th) NOT before it as the shills and MSM would have you and all of us believe! The margin hikes CAUSED the volatility - NOT the other way around =] Look at the evidence below.

Additional evidence that the margin hikes caused this volatility instead of calming it is PLAINLY visible by comparing your chart with a timeline of April and early May Comex silver margin hikes and the ensuing margin calls they triggered.

Notice that the REAL volatility kicks in the AFTER the initial two margin hikes and then grows exponentially with the addition of SEVERAL MORE margin hikes that follow during the first few trading days of May... Hmmm?

Jul 8, 2011 - 3:00pm


this breakdancing Granny is buying Cotton,Corn,UNG and some miners at discount.

She does not chase price. She does not read trading textbooks published by houses owned by Banksters. She does not wait for 'confirmation' and 'relative strength'. She just buys small in increments and then goes dancing.

SilverWealth Peter
Jul 8, 2011 - 3:04pm


with all deference to Bob, miners are up this week because they were way oversold and the C.O.T. report last week was very bullish. Also sentiment in the Gold community as usual was extremely bearish and fearful at the bottom.

Bob also said in late April that Silver could go to 70 quickly back then and there was no point in selling at 47 and trying to time it, 50 he said was just a meaningless psychological barrier since all holding at 50 were already dead.

BillAuAg zenith191
Jul 8, 2011 - 3:14pm

zenith191, The truth is out


The truth is out there As for your skepticism, time will tell the story For a good solid investment, I recommend BAC (snicker snicker) Best get out of gold and silver as the bubble is about to explode pop
Jul 8, 2011 - 3:18pm

Oh really

"This has certainly turned into a right wing conspiracy theory blog with an interest in the metals. It's a shame, but I guess it's not surprising."

Actually I see it more as a realist forum. Only nut job Liberal dopes think otherwise, but hey that's just a friendly observation.

Aronnax stoneeh
Jul 8, 2011 - 3:24pm

The price of mainstream acceptance/awareness?

"This has certainly turned into a right wing conspiracy theory blog with an interest in the metals. It's a shame, but I guess it's not surprising."

Yep, TF has definitely gone mainstream.

- Markus

I'm afraid it is more about being a beacon (and therefore a target).

I would be curious to hear about the site's visitation metrics from Turd or one of the admins - I am heartened by the international character of the existing audience:


Percent of Site Traffic

United States


United Kingdom


















Jul 8, 2011 - 3:31pm
John Clark
Jul 8, 2011 - 3:41pm

Things are only getting worse...

TF you sound like me now, I have been saying to family, friends and coworkers for over three years now that things are going to get worse. THIS TIME IS DIFFERENT Eight Centuries of Financial Folly by Reinhart & Rogoff " kind of " outlines the problem. It sure looks like things are going to get worse.

Remember when the future was Friday night, kick back, open a cold one and start the weekend.


"Hope for the best and plan for the worst"

Jul 8, 2011 - 3:51pm

Jim Sinclair says...

Jim’s Mailbox

July 8, 2011, at 11:49 am by Jim Sinclair in the category Jim's Mailbox | Print This Post | Email This Post

Dear Jim,

As you well know this sale of oil from strategic reserves, like the ill timed sales of gold by governments in the past, is doomed to failure. It seems very reasonable to assume that all future sales of government commodities, food, oil or gold, will be met with bids far in excess of the quantity for sale. If they are dumb enough to sell some gold we will see buyers appear and send gold much higher. In the mean time JP Morgan and other speculators will make money on the government’s ignorance of how the markets work.

Respectfully yours, Monty Guild

High quality gold deposits becoming more precious

Investors riddled with doubts will be relieved of their high quality gold shares by those that understand gold and the dynamics behind it.

Headline: High quality gold deposits becoming more precious

Global gold production may have hit a record last year, but that doesn’t mean the stuff is getting easier to find. Clarus Securities analyst Laurie Curtis wrote that the growing difficulties in finding gold suggest that high-grade deposits will command a stronger premium over time.

Citing data from the Society of Economic Geologists, Ms. Curtis noted that the number of deposits and total ounces found peaked in the 1980s “and have been steadily declining ever since.”

Additionally, the cost of discovery has increased from US$10 per ounce in the 1980s to more than US$47 an ounce in 2009, and there has been a decline in the average gold mining grade from 10 grams per tonne (in 1965-1975) to less than one gram in 2008, according to the data.



Jul 8, 2011 - 3:54pm

...and then somemore

In The News Today

July 7, 2011, at 11:02 pm by Jim Sinclair in the category In The News | Print This Post | Email This Post

Jim Sinclair’s Commentary

The shorts are getting desperate, with good reason.

India to import 350 tons of gold, 1200 tons of silver Last Updated : 07 July 2011 at 16:10 IST

NEW DELHI (Commodity Online): India’s state-owned trading company—Minerals and Metals Trading Corporation (MMTC)—said on Thursday that it would import 350 tons of Gold and 1,200 tons of Silver in 2011-12 as demand for the precious metals is rising fast.

"We plan to 350 tons of gold and 1,200 tons of silver in the 2011-12 fiscal as the domestic demand for these metals are fast rising," MMTC Marketing Director Ved Prakash told reporters.

India is one of the largest importers and consumers of gold and silver in the world. As the domestic production of these precious metals is negligible compared to their rising consumption, India has been importing hundreds of tons of gold and silver every year.

Prakash said that import of gold by MMTC in the current fiscal is expected to increase by more than 40 per cent with the yellow metal fast emerging as a safer investment option.

"We are stepping up import of Gold this fiscal due to rising demand for the nobel metal. Also, its value as a safe option, in the current volatile market, is rising,” he said.


The Die Is Cast

July 7, 2011, at 6:53 pm
by Jim Sinclair in the category General Editorial | Print This Post | Email This Post

My Dear Friends,

Have you thought about all the dramatics now taking center stage in the media? What compromise will be adopted that will allow for the US to avoid default by raising the debt ceiling?

Raising the debt ceiling is the problem and not by at means a solution. The race between dropping revenues and increasing costs will not be settled by politicians that do not even understand the problem.

The resignations of key economic personalities in the present Administration is systematic of the solid nature of the downward spiral that has gripped Western finances since the failure of OTC derivatives turned a normal recession into a long term depression.

There is no event that will turn the tide of the ramifications for poor economic management. Nothing can stop Gold, Silver, the Swiss and the Cando now.

The present drama of tax increases and spending cuts, like the release of oil, means nothing whatsoever even in the medium term.

The damage is done as the damage is cumulative. Day to day events are irrelevant. Day to day market activity is interesting but meaningless.

The die is cast. All we can hope is that gold is not headed to $12,500.


Jul 8, 2011 - 4:19pm


AND EXK! SPORTS A $10 HANDLE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Art Lomax
Jul 8, 2011 - 4:25pm

breakdancing Granny


Like your trades. Hurricane seasonal trade on the UNG. Cotton acres in Texas withering away from heat and drought.

Corn up today with rain in the forecast. Should be selling off. I don't think the rally was due to the heat in the 10 day forecast either as some were reporting. Sales to China confirmed last week. Someone must think they are shopping with granny for more.

Careful trading grains in a summer weather market. Forecasts can change quick over a weekend.

A good weekend to all. Time to crack open a cold one.

Jul 8, 2011 - 4:29pm

Peter, et al The RICO lawsuit pdf download

The RICO law suit filed last November is hopefully soon to be resolved in our favor.

JP Morgan Chase Silver Futures Complaint.pdf can be downloaded here 36 pages.

Jul 8, 2011 - 4:58pm

Silver at $36.76...

..isn't $36.74 Turds ice-cap mark?

pour the drinks, the ice may be broken and here soon!

Jul 8, 2011 - 5:00pm
Jul 8, 2011 - 5:11pm

JP Morgan bid-rigging exposed

there's no illusions to how big cartels operate's a story on JP Morgan caught rigging bids on Muni debt/Bonds today ..

The bidding mechanism promotes competition, rigging it is typical monopolist behaviour designed to fuk the competition and siphon extra profits into the riggers pocket (in this case, JP Morgan). Notice the excuses they come out with (the employees went rogue!)

Consider the US stock and commodity markets are huge national monopolies in themselves, Govt is a monopoly institution, most other institutions are monopolies (inc regulators, the Judiciary and Law etc).

So if you want to understand why America is only getting worse (Turds headline) understand monopolists (ie. parasites) are running the whole Apple Pie shooting match. Parasites are unproductive by nature and by deed, how can parasites make anything better when all they know is how to rob others of their productive wealth

Regards one blogger earlier smentioning the Internet Kill Bill Switch... well you have one too... Stop Paying Your Taxes... defund the rotten to the core edifice that is Govt that is destroying nations as we speak and moan and pontiicate.... you are funding this fuking parasite to tear the country (and other nations) apart

Wakey Wakey

Jul 8, 2011 - 5:19pm

@Velocity it was $36.79

From the Turds blog post yesterday morning:

" Note the very nice looking double bottom at 33.40. Sometimes you hear the term "W" bottom, well here is a textbook example of one but it comes with a warning. It is now very important that silver gets above the left side of the "W". That level is 36.79. "

[...of course it did interday trade at 36.84 - maybe thats kinda close? ]

Faction Paradox Aronnax
Jul 8, 2011 - 5:20pm

International reader

I would be curious to hear about the site's visitation metrics from Turd or one of the admins - I am heartened by the international character of the existing audience:

*waves at CD* I’m a new reader from the village of Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch, so I can confirm the blog is getting some international readers.

I’ve not earnt any money this last year and am soon going to be homeless, but hopefully one day I’ll save up enough to get some shiny precious things.

BillAuAg Shill
Jul 8, 2011 - 5:21pm

Shill, Note the scale of this


Note the scale of this fraudulent claim at mass layoffs. 500,000 layoffs in a workforce of 22,600,000 or 2.21% Compare these figures to industrial layoffs
Jul 8, 2011 - 5:22pm
Jul 8, 2011 - 5:25pm

JP Morgan Class Action Lawsuit Re Comex Fraud



On Feb. 8, 2011, all pending lawsuits against JP Morgue involving alleged Comex fraud were ordered transferred to the southern district of New York. The cases are all combined, into a single proceeding for pre-trial and discovery purposes. The lead case number is 1:11-md-02213, but there are several dozen cases filed by all different plaintiffs:

ORDER: The following cases pending in the Southern District of New York and assigned to this Court are transferred to 11 MD 2213 as related cases. 10-cv- 08343-RPP, Wolanvk v. JP Morgan Chase & Co. et al; 10-cv-08353-RPP, Malamud v. JP Morgan Chase & Co. et al; 10-cv-08356-RPP, White v. JP Morgan Chase & Co. et al; 10-cv-08387-RPP, Willetz v. JP Morgan Chase & Co. et al; 10-cv- 08392-RPP, Clal Finance Mutual Fund Management. Ltd. et al v. JP Morgan Chase & Co. et al; 10-cv-08461-RPP, Elliott et al v. JP Morgan Chase & Co. et al; 10-cv-08479-RPP, Wagner v. JP Morgan Chase & Co. et al; 10-cv-08548-RPP, Maher v. JP Morgan Chase & Co. et al; 10-cv-08565-RPP, Silva v. JP Morgan Chase & Co. et al; 10-cv-08569-RPP, Kosanovichv. JP MorganChase & Co. et al; 10-cv-08578-RPP, Hougher v. JP Morgan Chase & Co. et al; l0-cv-08591-RPP, Hurt v. JP Morgan Chase & Co. et al; 10-cv-08616-RPP, Anderson et alv. JP Morgan Chase & Co. et al; 10-cv-08617-RPP, AIS Futures Management, LLC et al v. JP Morgan Chase & Co. et al; 10-cv-08724-RPP, Nicholson v, JP Morgan Chase &_Co. et al;10-cv-08739-RPP, CrYstal et al v. JP Morgan Chase & Co. et al; 10-cv- 08767-RPP, Kam et al v. lP Morgan Chase & Co. et al; 10-cv-08817-RPP, Feldman et al v. JP Morgan Chase & Co. et al; 10-cv-08871-RPP, Sandau v. JP Morgan Chase & Co. et al; 10-cv-08884-RPP, Anderson v. JP Morgan Chase & Co. et al; 10-cv-08960-RPP, Cohen et al v. lP Morgan Chqse & Co. et al; 10-cv-09136-RPP, Rallj v. JP Morgan Chase & Co. et al; 10-cv-09179-RPP, Gamma Traders L LLC v. lP Morgan Chase & Co. et al; 10-cv-09376-RPP, Montgomery v. lP Morgan Chase & Co. et al; 10-cv-09386-RPP, Berkson v. JP Morgan Chase & Co. et al; 10-cv-09575-RPP, Antin et al v. JP Morgan Chase & Co. et al. (Signed by Judge Robert P. Patterson on 2/24/2011) (jpo) (Entered: 02/24/2011)

ORDER: The following cases pending in the Southern District of New York and assigned to this Court are transferred to 11 MD 2213 as related cases. 11-cv-1095-RPP, Repke v. JP Morgan Chase & Co. et al; 11-cv-1096-RPP, Hearn v. JP Morgan Chase & Co. et al; 11-cv-1097-RPP, Kensik et al v. JP Morgan Chase & Co. et al; 11-cv-1098-RPP, Iliff et al v. JP Morgan Chase & Co. et al; 11-cv-1099-RPP, Meckel v. JP Morgan Chase & Co. et al; 11-cv-1100-RPP, LJG Asset Management v. JP Morgan Chase & Co. et al; 11-cv-1101-RPP, Murphy v. JP Morgan Chase & Co. et al; 11-cv-1102-RPP, Clal Finance Derivatives Trading, Ltd. v. JP Morgan Chase & Co. et al (Signed by Judge Robert P. Patterson on 2/24/2011) Copies Sent By Chambers. (mro) (Entered: 02/25/2011)

CERTIFIED TRUE COPY OF CONDITIONAL MDL TRANSFER IN ORDER FROM THE MDL PANEL (CTO-2) transferring this action from the United States District Court - that pursuant to 28 U.S.C. 1407, the actions listed on the attached schedule A and pending in the District of other than the SDNY, and the same hereby are, transferred to the Southern District of New York, with the consent of that court, assigned to the Honorable Judge Robert P. Paterson, Jr., for coordinated or consolidated pretrial proceedings with the actions pending in that district and listed on Schedule A. (Signed by MDL Panel on 3/9/11) (rjm) (Entered: 03/16/2011)

On June 16, 2011, the judge extended the deadline for plaintiffs to file their consolidated complaint until and including August 15, 2011. Thus, on August 15, 2011, there should be the latest complaint on file. I am happy to keep everyone posted on the developments. In fact, if anyone hehre suffered losses as the result of the Comex fraud by JP Morgue, they should consider getting their own lawyer to join in the class action proceeding. Maybe someone wants to hire me? I am not adverse to jumping in on this one, since I love this stuff anyway. Shoot me an email, and we can chat.

The way these things typically work is that a class action complaint is filed, then there is a long litigation battle over class certification. While that battle is raging, discovery over this issue gets going. All the while, JP Morgue's lawyers make tons of money defending the cases. The plaintiffs' lawyers make not one penny, until there is an eventual settlement, at which there will be a court order granting the plaintiff attorneys' a ton of money in fees. The actual recovery by class members will likely be miniscule, but one never knows. JP Morgue will pay out a pittance (several billion) relative to the unjust windfall they garnered from the manipulation. Just so you know, this is the most typical outcome. Don't blame the messenger.

If you have any desire to look at any of the legal documents, it is very simple to do so. You may need to set up an account. I did about twenty years ago, so I don't know if it has changed or not. Copies of documents are like $0.06 per page, so no big deal. Everything in federal court is electronically filed, so you can access all documents from any case right from your computer no matter where you happen to be.

Go here, and type in the case number. Click on the Docket Report, and peruse it. If you want to look at an actual filed document, just click on its docket number, then voila. You can save it to your own computer to look at later.


Jul 8, 2011 - 5:29pm


The same old FOFOA propaganda again? I've debated with him already. He certainly has lots of passion and wants to guide his followers but he just doesn't understand economy well enough to know what he is talking about. His "giants' plan / need to separate storage of wealth from medium of exchange" theories are mostly wishful thinking and outta touch with reality. It's not people here buying the wrong metal, it's you hanging onto the wrong theory.

Jul 8, 2011 - 5:32pm


Hey brother hope all is well, as per your post above please elaborate, I am getting my drink on

Jul 8, 2011 - 5:53pm


LIESman actually referred to today's economy as a "Recession" today on CNBC. These guys aren't as clueless as they appear.

It was right before some idiot guess talked about a "pothole recovery". I guess that's the new excuse. We've hit a pothole. Pothole my ass. It's a Depression.

WYO Silver Aronnax
Jul 8, 2011 - 5:54pm

@ CD

Interesting stats on Turd's site traffic. Can we infer from this that Poles are smarter than Canadians?

Are Poles justified in asking, "How many Canucks does it take to screw in a light bulb?"

(Just kidding, Great White North people.)

Jul 8, 2011 - 5:55pm

U.S. Greater Depression Accelerates

U.S. Greater Depression Accelerates

By Jeff Nielson

While the myopic U.S. propaganda machine and the “experts” who shill for it will use the word “surprise” to describe yet another dismal U.S. jobs report, the only people who could have been surprised by today’s news are those who have had their eyes closed for the past several months (years?).

The U.S. government has just completed its most massive fiscal “stimulus” in history – by several multiples. It continues the loosest, most-reckless monetary policy in the history of the world. And yet the data is clear. This unprecedented effort to attempt to breathe life into the dying U.S. economy has produced nothing more than a feeble, temporary “dead-cat bounce”.

On the employment front, as usual the real data has been sugar-coated with more fraud by the Bureau of Labor Statistics. While the BLS is pretending there was a paltry 18,000 (net) jobs created in the U.S. in June, that number has no basis in reality. Merely subtract the phantom jobs from the absurd “birth/death model” and the U.S. economy lost more than 100,000 jobs last month – and that is before we factor in any more of the BLS’s statistical perversions.

Naturally these heavily-doctored monthly jobs reports don’t begin to tell the story on U.S. (un)employment. To do that we need to look at more meaningful statistics, laid-out in long-term charts.

Jul 8, 2011 - 5:56pm

Dry powder

Yha man i love surfing dry powder in the vinters in Europe, i love keeping my cash in silver and gold. Hehe i never get to time the fucking bottoms because i just cant wait to get rid off the dirty paper soon enough. You guys holding for the dips are crazy man.

33 and a turd
Jul 8, 2011 - 6:05pm

job creation

I enjoyed Obama saying that 2 million jobs have been created during the recession.

Only problem is a small one. 8 million jobs have been lost.

No doubt Barry wants credit for the 2 million but accepts no blame for the 8 million

tankerfirstofficer California Lawyer
Jul 8, 2011 - 6:13pm

Question for California Lawyer...

Hello CA Lawyer... I've enjoyed your posts here and on the old site and respect your viewpoint a great deal. I must ask about this comment of yours though:

"Of the eight homes on the block, only ONE mortgage is current. The rest of the squatters all have stopped paying both their first and second mortgages. It has been three years for one of the families we know."

I can understand the verification of this "trend" by the family you know, but how on earth can you possibly verify that one home in eight in the neighborhood is current on their mortgage? Without access to records (or possibly representing these people somehow {gasp!}), how can you know this for sure?

Many thanks, and happy trading/stacking to you, sir!

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Key Economic Events Week of 6/17

6/18 8:30 ET Housing Starts and Building Permits
6/19 2:00 ET FOMC Fedlines
6/19 2:30 ET CGP presser
6/20 8:30 ET Philly Fed
6/21 9:45 ET Markit flash June PMIs

Key Economic Events Week of 6/10

6/11 8:30 ET Producer Price Index
6/12 8:30 ET Consumer Price Index
6/13 8:30 ET Import Price Index
6/14 8:30 ET Retail Sales
6/14 9:15 ET Cap Ute and Ind Prod
6/14 10:00 ET Business Inventories

Key Economic Events Week of 6/3

6/4 All day Fed conference in Chicago
6/4 10:00 ET Factory Order
6/5 9:45 ET Markit Services PMI
6/5 10:00 ET ISM Services PMI
6/6 8:30 ET US Trace Deficit
6/7 8:30 ET BLSBS
6/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 5/28

5/28 10:00 ET Consumer Confidence
5/30 8:30 ET Q1 GDP 2nd guess
5/31 8:30 ET Personal Income and Consumer Spending
5/31 8:30 ET Core Inflation
5/31 9:45 ET Chicago PMI

Key Economic Events Week of 5/20

5/20 7:00 pm ET CGP speech
5/21 10:00 ET Existing Home Sales
5/22 2:00 ET FOMC minutes
5/23 9:45 ET Markit PMIs
5/24 8:30 ET Durable Goods

Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

Key Economic Events Week of 4/29

4/29 8:30 ET Pers Inc, Cons Spend, Core Infl
4/30 8:30 ET Employment Costs
4/30 9:45 ET Chicago PMI
5/1 8:15 ET ADP jobs report
5/1 9:45 & 10:00 ET Markit and ISM Manu PMIs
5/1 10:00 ET Construction Spending
5/1 2:00 ET FOMC Fedlines
5/1 2:30 ET CGP presser
5/2 8:30 ET Productivity and Unit Labor Costs
5/2 10:00 ET Factory Orders
5/3 8:30 ET BLSBS
5/3 9:45 & 10:00 ET Markit and ISMServices PMIs

Key Economic Events Week of 4/22

4/22 10:00 ET Existing Home Sales
4/23 10:00 ET New Home Sales
4/25 8:30 ET Durable Goods
4/26 8:30 ET Q1 GDP first guess

Key Economic Events Week of 4/15

4/16 9:15 ET Cap Util and Ind Prod
4/17 8:30 ET Trade Deficit (Feb)
4/17 10:00 ET Wholesale Inventories
4/18 8:30 ET Retail Sales (March)
4/18 8:30 ET Philly Fed
4/18 10:00 ET Business Inventories (Feb)
4/19 8:30 ET Housing Starts and Building Permits

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