The Turd Speaketh

605
135
Fri, Oct 14, 2011 - 4:59pm

As we head into the weekend, I've got a few things on my mind. However, it would take too much time to type it all out so I figured it would be best to speak to you directly.

The only thing that I forgot was that YouTube only allows 15 minute videos. Well, let's just say I rambled on a bit and ended up somewhere in the neighborhood of 25 minutes. Oops. Therefore, note that there are two clips attached. Please humor me by taking the time to watch both.

Have a great weekend! TF

The Turd Speaks Oct 2011 (pt. 1)
The Turd Speaks Oct 2011 (pt. 2)

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  605 Comments

metalheaddaveyboy
Oct 15, 2011 - 2:28pm

This is a most confused

This is a most confused message you are sending out, likewise you said people were foolish to sell their silver, yet recently you have done a 180 and suggested people sell high, buy low.

There are paper traders and there are stackers. I've never seen TF suggest stackers do anything but buy the dips. I'd bet that's because he never has. If you have some example of TF advising anyone to sell the phyzz, I'd love to see it.

henry
Oct 15, 2011 - 2:32pm

Chicken - No Bacon !

That is funny... You Canadians are a riot !!!

No Chicken

@BSD: Gomes v. Countrywide

Backseatdriver: Thanks for noticing this. I was not on the blog since Friday morning. Kids's soccer, winter baseball, post-game pizza, frozen yogurt (Turd, when you going to spread your wings out west? "Turd's Yogurt?" Nah, just kidding).

Anyhow, my take, on the effect of the Gomes cert. denied order:

When a party loses an appellate decision, the party is allowed to request that the US Supreme Court consider the case. That procedural device is called "Filing a Writ of Certorari." It is a REQUEST. The US Supreme Court can decide to take the case, or not. If the US Supreme Court declines to take the case, then they issue a simple decision: Cert. Denied. All that means is that the loser at the appellate court took the time and money to file a Writ to the Supreme Court, and that the Supreme Court declined to take up the issue. That means that the lower appellate court ruling stands.

So, in the context of Gomes v. Countrywide, here is what it means:

In the underlying lawsuit, where, as in Gomes, the plaintiff fails to identify a legal basis for an action to determine whether MERS has authority to initiate a foreclosure proceeding, the Gomes decision confirms that California's statutory scheme (California Civ. Code §§ 2924-2924k) does not provide for a preemptive suit challenging standing. In non-legal, this means that homeowner filed a lawsuit. No foreclosure had been initiated as of yet. But, the homeowner wanted to preemptively challenge MERS legal ability to initiate a foreclosure. So, the homeowner's original lawsuit asked the trial Court to determine--preforeclosure--whether MERS has authority to assign. This is legally incorrect under California's statutory scheme. Think about it: the homeowner is asking the Court to make a ruling, when there has been only theoretical harm, but no real harm to the homeowner. The theories of both sides are thus very simple. The homeowner says to the Court: "I want the court to make a ruling right now, that IF a foreclosure is initiated, then MERS has no legal ability (standing) to do so." MERS, in contrast, says: "No foreclosure is pending, so there is no legal reason for the Court to make a ruling. The lawsuit should be dismissed." Note that upon the court dismissing the lawsuit at the very beginning of the case, nothing changes at all. The homeowner can later contend, if a foreclosure is filed, that MERS is illegally trying to foreclose, or that there has been an improper assignment, etc. MERS can still contend, at that point, that it is legally entitled to foreclose, that assignments were done properly, etc. So, again, this is all about a preemptive strike against MERS. The Courts have weighed in on this, and basically, the MERS scheme is NOT going to be thrown out wholesale at the preemptive stage. Simply that. But, the importance of this lawsuit and the Supreme Court decision, is that the individual homeowner attacks upon the MERS scheme PREEMPTIVELY as a whole, are DEAD, FINISHED, KAPUT. A pure "Show Me the Note" lawsuit, filed without a foreclosure actually occurring, is a losing lawsuit. So there you have it. There is still a legal theory circulating, among some attorneys here in CA. They assert that the correct allegation to challenge MERS is to assert that MERS has no authority to assign, and challenge MERS on that basis. Those types of lawsuits are still in the pipeline. But, in my humble opinion, given Gomes and Cervantes, et al., this MERS litigation is nearing its ultimate death. I could be wrong, but it seems crystal clear to me that MERS has won, and will win, these types of preemptive lawsuits. But, that does not end the war, because there are still many thorny obstacles and landmines all buried in the system, which have yet to be resolved (chain of title issues, bad title, title insurance, etc., not to mention the whole propping up of home prices to keep banks from failing). My basic take away from all of this: MERS is viable, and "Show Me the Note" litigation will die an ignominious death in due course. There are those who disagree, and are still fighting, but the central attack upon the illegality of MERS as a whole, thus allowing wholesale rejection of indebtedness solely because MERS involvement in the chain of title, is dead.

I spent some time discussing these issues in the separate forum for those interested: https://www.tfmetalsreport.com/forum/1480/show-me-note-litigation?page=2

Also worth a look is Patrick P, who is very knowledgeable about this. He commented on MISH's post, it is worth a read.

I will update things as I see them.

Take care and thanks for the opportunity to shed some light on this topic.

I Run Bartertown
Oct 15, 2011 - 2:40pm

Puck

"I wonder how this sort of thing would play out with an armed populous who generally supported the protesters."

There's a strange irony to that thought, since it would appear that the protesters (at least todays in DC talked about it) would wholeheartedly support .gov disarming that same populace.

cwavec
Oct 15, 2011 - 2:42pm

Economics 101

Well, some way there are videos that last 25 minutes. There must be a way but

I don't know what it is.

Anyway here is one and it is important. Conceptually, I think it is as important as the

interviews about PAGE. The RenegadeEconomist interviews Prof. Steve Keen.

Listen to this carefully and use all your powers of thought to integrate what he says

into your current views.

In conversation with Prof Steve Keen

As a caution, I mention that I had some trouble getting this URL to work. If the same

thing happens to you, do a search for "renegadeeconomist" and you should then be

able to access this video (and others) from there.

Dave T
Oct 15, 2011 - 2:44pm

For what it's worth

Hi Turd, I was surfing the web today while eating lunch and I decided to visit your TFMetals site. Unfortunately, that’s something I do with far less frequency lately. I saw the videos posted and figured I’d watch them while eating. Given the subject matter of the videos I figured too that this would be an appropriate time to post. I used to be a dedicated follower of this site, but not anymore. While I appreciate your efforts Turd and your sharing of knowledge, I feel that the site has gone downhill. This site used to be a filled with great information for keeping up with the metals and financial markets. While there is still valuable info here, the site can no longer be “filled” with that info since it is intermixed with way too much junk now.

I do understand that one man’s junk is another man’s treasure, but I haven’t read anywhere where this site has been billed as “the place to come where there’s a little something for everyone”. I’ve seen it billed as the place to come to share and gather knowledge pertaining to our preparation for the end of the great Keynesian experiment… something like that. I fail to see how the immature posts of “First”, “Second” and “Ooops I guess I’m not first after all” have to do with knowledge sharing. I also fail to see what music videos from rock band from the 1980’s have to do with your stated mission. Hey don’t get me wrong, I love 80’s music, and I visit YouTube on occasion to watch or listen to some of that music to reminisce. But at a site like this, all that stuff does is clog things up and get in the way.

Now if history repeats itself then this site will now be bombarded with even more music videos as an act of defiance from the immature ones here who use the Internet as some sort of escape from reality. Actually, a similar bout of defiance came up a while back when the discussion centered around the lack of appropriateness of this site for children due to the profanity here. Even your beloved Shill chimed in with a profanity laced rant directed mainly at parents who try to raise their children to have morals and respect. That was quite troll-like behavior if you ask me and any respect that I once had for Shill quickly vanished after that rant.

Now I know some will say that the “junk” is harmless and that we should just get over it. I’ll beg to differ though. It slows things down. We still have to at least glance over it or are required to scroll past it. What should be perhaps four pages of posts are now sometime maybe 8 pages (due to the junk). That’s a pain when we have to click through so many pages when searching for key words. Plus, it has been pointed out here many times by others that they are annoyed by this junk, but the junk posters just don’t seem to care. As long as they can get their face time and find acceptance by some people than their day is fulfilled. Right now this site is perfect for a retiree with no hobbies who is desperately looking for ways to fill their day. A bit much for those of us who have busy schedules and families to devote time to. I for one don’t have the time to sift through junk looking for treasure.

Again Turd I applaud your efforts. But if you try to please everyone than you will truly fail. I do wish to prepare for the scary future that lies in front of us all. Preparation is something that us adults need to do, and as such it would be nice if the people here would act like adults. My suggestions… Do away with the immature stuff. Maybe create a music and movie clip library if people insist on posting that stuff. Keep political stuff in the political forums. And last but not least, start suspending people who act like trolls with their flaming comments. If people are sent to the sidelines for a few days then they’ll start acting a bit nicer.

Gresham’s law states that bad money drives good money out. Kind of ironic that something similar is what’s happening here. Some people who would have something worthwhile to share simply leave due to those who share too much of nothing. If you’re OK with it all then that’s fine. It is your site. Maybe someday I’ll once again become a devoted follower. That will depend on whether or not the site gets back on track. Any ways… time to go… Before I do though I’m gonna make a small donation just to show that I am sincere and appreciative of your efforts.

Stormdancer
Oct 15, 2011 - 2:44pm

California Lawyer

It's an incredible blessing to have someone around willing to take the time to guide us through the legal shennanigans these days. Thanks for taking the time!

Turdville....what a place.

Moderator Jane
Oct 15, 2011 - 2:44pm

OWS - Rome Riots Discussion

While the riots in Rome are current news, and in some respects it's OK to share news on the blog comments, because of the highly emotional and political nature of the OWS protests, please try to contain discussion about them to the forums. Here is the topic:

https://www.tfmetalsreport.com/forum/2593/ongoing-occupy-wall-street-cov...

If it's warranted, it might also not be a bad idea to start up a separate topic in the Current Events folder for the Rome Riots.

Thank you!

Moderator JaneDave T
Oct 15, 2011 - 2:50pm

@Dave T

We started up a "Frivolity Forum" as a place where people could post videos to their heart's content, and DPH has been more than gracious in keeping his running thread of videos going in that forum. We do allow for the occasional video posting in the blog (if it's topical).

So yes, we listen to folks who want to come to the blog for informative comments and we are doing our best to encourage more forum use overall. This will, we hope, not only make the blog comments more useful and informative, but help build the forums into a rich and diverse place where people can find threads that interest them, and skip the stuff (whether it's music videos or outright politics) that they don't want to be bothered with.

I Run Bartertown
Oct 15, 2011 - 3:03pm

Hmmm

Just one perspective here. I don't presume to tell the mods what to do, but the appeal here for me has always been the eclectic mix. I would've never gone to a ham forum to get Eric's suggestions, and I'd never go to a Train forum to see CpnScarlet's trains. I'd not go to a religious forum or an occult forum, but I've learned many interesting facts here about both. But, I'm glad to have read all of this.

IMHO, the only thing that consistently has been dissonant in the atmosphere is the occasional 'stick up their butt' / "I only care about PM discussion" drone.

Unfortunately, it ALWAYS seems to be these types that get catered to, not just here, but in life. The End of the Experiment can mean MANY things...and only just recently, Turd seemed to have reminded everyone here that this site is about much MORE than PM prices...

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