The BS Thickens

469
Fri, Nov 4, 2011 - 9:25am

It's the first Friday of the month so we were once again treated to another edition of The Shill, The Coug and LIESman this morning. Truth be told, I couldn't stand to watch. I flipped on CNBS at 8:29 and turned it off at 8:31.

Here's an approximation of what I missed:

"Blah, blah, blah....payroll numbers...blah blah blah...manufacturing...blah blah blah...private sector....blah blah blah...seasonal adjustments...blah blah blah...public sector...blah blah blah..." Joe Kernen trying to look professorial. Michelle Cabrera trying to look sexy. Rick Santelli trying to look interested. All the while, the LSHI reached a peak of about a 7.

Look, here's all you need to know. No sense in me repeating. Just click the link:

https://www.zerohedge.com/news/nfp-less-103k-birth-death-adjustment-23k-530k-jobs-created-2011-statistically

And you wonder why we call it the "BLSBS Report"?

And while we're at it, go back to ZH and read this. Please take your time as you read it as it is critical that you understand the general thesis:

https://www.zerohedge.com/news/repeatedly-warned-quarter-end-window-dressing-key-factor-mf-globals-demise

Now, the next time you hear a bank analyst, or any "analyst" for that matter, try to tell you that "financial stocks are undervalued" or that "the banking sector is healthy", remember what you just read. Knowing what you now know about the ongoing balance sheet shenanigans of the TBTF banks, you are only able to draw one of two possible conclusions:

1) The analyst is completely clueless and should be ignored.

2) The analyst is deliberately attempting to mislead you about the health of the banks and the U.S. economy, in general.

While we're at it, remember the two reasons that the TBTF banks are even still functioning:

1) Politically-forced FASB accounting changes in 2009 allow banks to value worthless securities as if they actually retain their original value.

2) To fund The Great Ponzi, TBTF banks borrow unlimited funds from the Fed at 0.00%. They then "invest" this free money into treasuries at 2-3%. They book the risk-free, taxpayer-supplied spread as "profit". They have used these "profits" in the charade of "paying back TARP". Additionally, this process allows the Fed to mask their quantitative easing efforts by having the TBTF banks do the dirty work for them. The process of QE2 and POMO was just an overt process of funding the U.S. government while at the same time injecting massive amounts of capital directly into the Fed's primary dealer banks.

But don't just take my word for it, The Wicked Witch explained this to you months ago:

The Wicked Witch Explains Her Motives.mp4

Ah, screw it. I better stop there. I'm getting all worked up and I don't have the time to continue. Maybe we can discuss this scheme in greater detail over the weekend. In the meantime, here are your charts with the levels to watch as we go through the morning:

Speaking of the weekend, I will have another podcast for you tomorrow. A slightly different take this time as its about 25 minutes with an author who has made some interesting projections about where this all is headed. I think you'll enjoy listening and you'll likely end up wanting to read his book.

Keep the faith and hang in there. Turd out.

About the Author

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

  469 Comments

Monedas
Nov 4, 2011 - 11:40am

News item for Shill et al !

The US Government pays no income taxes......and it is definitely expands the upper 1% to the upper 50% ! Monedas 2011 Comedy Jihad Elephant Lounge Lizard

JP McManus
Nov 4, 2011 - 11:42am

LOL @ Nochello

In 2004 Nocello was awarded a gold medal at the IWSC (International Wine and Spirit Competition, UK) competition for nut liquors.

https://en.wikipedia.org/wiki/Nocello

What? No one else saw that??? Nut Liquors! hahahahaha

ewc58
Nov 4, 2011 - 11:45am

National Emergency Alert Service test on 11/9/11

Heads Up, I've had my eye on this thingy for quite awhile.... can tell y'all there's more than a little weirdness to be found here. No reason to overreact, just another thing to be aware of this week...

Uploaded by dutchsinse on Nov 4, 2011

disturbing! money quote from FCC :

" the EAN code will automatically generate a text crawl that will say "A Primary Entry Point station has issued an Emergency Action Notification . . . "The text crawl will not indicate that the event is a test. "

um, friends: WTF is a "primary entry point"?! P.R.E.P.? !!!

See the yt vid here: https://www.youtube.com/watch?feature=player_profilepage&v=KBYDd2zc4hk

read the rest here: links provided -- https://sincedutch.wordpress.com/2011/11/04/1142011-a-real-wth-moment-eas-test...

ivars
Nov 4, 2011 - 11:49am
Dr G
Nov 4, 2011 - 11:53am

It's Friday, so please feel

It's Friday, so please feel free to post pictures of Giada De Laurentiis, on my behalf. Thanks.

FriedEggs
Nov 4, 2011 - 11:53am

I am not

sure if 'they' CAN let the Eurozone fail... it took them this long to create it as its part of the end game they have for us.

.

Having it fail or if it fails - sets THEM back - many years.

.

They created the EURO - as part of the goal to get closer to the ONE WORLD GOVERNMENT. You can't rule the world - if you don't first rule EUROPE. Its there little pet project.

.

So, they can't let the EURO fail - to much time and effort would be lost as they are accelerating the pace to their end game goal.

.

Euro was created not for wealth - but to smash US the f**k down.

.

Fried(e)

Iowegian
Nov 4, 2011 - 11:54am

Peter Grandich

My guess for tomorrow's podcast.

Dr G
Nov 4, 2011 - 11:54am

Well, Ivars believes silver

Well, Ivars believes silver is range bound, capping out at $35, for the next 120 days. I don't know if I should laugh or cry.

Art Lomax
Nov 4, 2011 - 11:54am
GoldMania3000
Nov 4, 2011 - 12:01pm

Ivars

So if there's a black swan event, then what? If more QE is annouced then what? If EU does....?

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