Moral Bankruptcy

Thu, Nov 10, 2011 - 9:06pm

As you know, I was out all day today. It was nothing earth-shattering. Just a long list of mundane tasks that needed to get done. Accordingly, I had a lot of time to think. Think about trust. Honesty. Responsibility. The present. The future. All of this stuff swirling around in my mind for hours. I had an idea of what I wanted to write tonight but I didn't know if I could pull it off.

I guess what got me started was MFing Global. OK, so I lost 3G. I can handle it. But do you know that one of your fellow Turdites lost thousands of dollars and 5000 ounces of physical silver? That's incredibly disturbing. MFing Global clients were assured that their funds were held "separately". They were assured by the CME that all would be well. Clients trusted them and now that trust is gone. Soon, Bank of America will declare bankruptcy due to the untenable book of derivatives they inherited when they purchased Merrill Lynch. In broad daylight, BoA recently transferred the default risk of these derivatives from their ML subsidiary and onto their retail bank subsidiary. Now, when BoA ultimately files for Chapetr 11, the losses will be borne by their regular, retail bank customers. "Don't worry", they say. "The accounts are FDIC insured", they proclaim. Really? Really. And that makes it OK? Steal regular folks savings accounts to pay off the counter-parties of some long ago CDS deal? How can this happen and no one even bats an eye? I guess it's just business as usual these days. 

How did we get to this point? How could a country that was built upon personal responsibility and self-reliance degenerate so rapidly into a narcissistic cesspool of corporate and individual sociopaths? Did the descent begin with Watergate? Was it Iran/Contra and the Gordon Gekko 80s? Could it have been "read my lips, no new taxes"? How about "Listen to me. I did not have sexual relations with that woman"? Maybe it was "I've got to violate the free market to save the free market"? Enron. Worldcom. Ceaseless wars. All of this has combined to push this country to the brink of dissolution and anarchy.

At any rate, this was what I wanted to write and then I found that it had already been written. It was also written much better than I could have ever done. So, please humor me now and take a few minutes to read this column from Jim Quinn of The Burning Platform.

At the risk of redundancy, below is the final paragraph. This reads like something I could have written myself.

"When I consider all that is wrong in our society, I become despondent, angry and despairing for the future of our country. It seems that everyone in positions of power across the spectrum of education, religion, finance, and politics are psychopaths, bent upon self-destruction no matter the cost to society or unborn generations. Our nation has degenerated into an egocentric, self-loathing, vain, shallow excuse for a civilization. There is anger flaring up, but it is just as likely to be misdirected and misinformed. The lack of critical thinking skills and the overwhelming effects of media propaganda has so degraded the intelligence of the populace that when the system breaks down in the next few years, the masses will clamor for a savior rather than seeking truthful answers and willingly making the sacrifices required to get our nation back on track. This country will get what it deserves – a despotic ruler and a brutish civilization governed on the basest of principles. This is what happens when a society rewards lying and greed over honesty and compassion. There are consequences to actions and inactions alike. We’ve made our choice."

The optimist in me wants to hope that there is still time, that we can correct our course. The realist in me knows that there can be no turning back. The die has been cast.


About the Author

turd [at] tfmetalsreport [dot] com ()


Witchsmeller Pursuivant · Nov 10, 2011 - 9:18pm

And people wonder why I think

And people wonder why I think anarchism is a reasonable contender to replace the current structure of society? Not that I think it will mind you, it's plainly obvious that society will revert to brutal fascism, because modern fascism defends the powerful, and selects scapegoats to enrage the populace.

PuraVida · Nov 10, 2011 - 9:18pm


The die has been cast. But after every winter comes spring. Things will suck and suck hard, but they WILL get better once again.

Hammer · Nov 10, 2011 - 9:19pm

Compassion - couldn't have

Compassion - couldn't have said it any better.

paulindoon · Nov 10, 2011 - 9:19pm

No words

There rerally are no words that we can speak to those caught in this MF scandal that will really combat the outrage that must be felt. Yes, we can express our sorrow at their loss - why even our Turd was caught up in this snare. But really what do words count for except to offer support.

With that said, I feel for all Turdites if they were a victim of MF and want to show them that the community does care. Keep a stiff upper lip if possible and know that the Sun will shine tomorrow as it has in millennia past.

To everyone that can (financially) support our Turd, now is the time.

steeled · Nov 10, 2011 - 9:22pm


that paragraph said it all for me as well...

November 10, 2011 - 3:23pm #417
flaunt · Nov 10, 2011 - 9:24pm

At this risk of getting too

At this risk of getting too political, I find the idea insulting that "we" decided anything. I just happened to be spat out upon the face of the earth on this plot of land some people call the United States of America. I was never asked if I wanted to be part of a system that rewards greed, lying, and corruption. There is no "social contract," because nobody can show me the contract I voluntarily signed in my handwriting. All there IS is brute force. The whole system is based upon it, so it shouldn't be a surprise that there are people in power who use it to do extreme harm to other human beings all over the world. This isn't about selecting the "right" or "moral" candidate in order to fix the system. The problem IS the system - any system that rules with force - and the problem won't go away until enough people recognize that and start down the path toward true independence. A state of one... There aren't hundreds of states littering this planet, that is just a fabrication of imaginary lines on pieces of paper backed up by extreme violence. There are billions of states, approximately 7 billion now, and each one is autonomous and has natural rights.

End of rant.

Las Vegas Dave · Nov 10, 2011 - 9:25pm

100% correct. Plan accordingly

AG, AU, semi and full auto weapons and lots and lots of ammo.

We are past the tipping point Turd

· Nov 10, 2011 - 9:27pm

Turd- I have to ask the question...

Fine, fine post brother. And given what has happened to you, and to tankerfirstofficer, and so many others, I have to ask... is it time to quit trading, close accounts and go pure physical? Because I love trading. I love it like a good football game. Or beer. Or steak. But if it is truly time to quit this rat race, if there is no reason to trust any of these shysters anymore, then I guess I will have to. Would love your thoughts, if you have the chance. Be well, my friend.

Dr G · Nov 10, 2011 - 9:29pm

Turd, what a wonderful post.

Turd, what a wonderful post. A true gem. Thanks for all you do!

I've always said that I don't stack physical for myself--it's for my children and their children. I believe they will live in a world much different than the one we live in today. I don't know if my stack will make them wealthy, or elite, or give them special rights. I only know that it will insulate them to a small degree from that which is inevitable.

· Nov 10, 2011 - 9:30pm

For clarity...

It's not just the world of finance and government that disgusts me.

This Penn State thing is utterly disgusting.

I'm a practicing Catholic but I find the church's actions regarding pedophilia to be reprehensible.

Our society celebrates people like Kim Kardashian and Paris Hilton while it denigrates actual achievers.

Game the system. Lie to get ahead. Put yourself first. Screw anyone that gets in your way.

A society built upon such abject immorality is doomed to failure.

ScottJ · Nov 10, 2011 - 9:31pm

An Evolution is Upon Us

Little do we know, but an evolution of consciousness is upon us! Rejoice Turdville. Stop focusing on all of the bullshit and start talking about what we want the world to become. Talk constructively and watch the world change in a constructive manner.

We the people are the answer. It starts at yourself. Trying to change the external world will result in failure. It has to start within!

Pining 4 the Fjords · Nov 10, 2011 - 9:31pm

Yes, Pining, I suppose it is.

Yes, Pining, I suppose it is.

· Nov 10, 2011 - 9:34pm


It looks like the chatroom is working again.

Dr G · Nov 10, 2011 - 9:38pm

@Turd, but those actions are

@Turd, but those actions are nothing new--they've existed since the dawn of time. It's just that now they are more accepted (or so the media would have us believe), and they are more blatant than ever before.

And such it has gone in every great society. When things reach immorality "max q", society crumbles and has to rebuild. Once again, nothing new, but different versions of the same game. We know this from history.

And so here we are, witnessing what we don't want to be a part of, but knowing that it is unstoppable.

It does make me wonder, when Rome fell, did gold or silver help those people at all? I don't think so.

· Nov 10, 2011 - 9:40pm

And just in time

In the words of Admiral Painter: "This business will get out of control. It will get out of control and we'll be lucky to live through it".

We'll Be Lucky to Live Through It
Dr Durden · Nov 10, 2011 - 9:43pm

But i will say

I do admire the humble humility of the member that got his ass handed to him in the MFing Glowballz shake down. I've seen him post a few times and he was thankful for those that embraced his pain. Sorry, I forgot his handle right now.

Hang in there, brother...karma will work wonders for you soon. 




European American · Nov 10, 2011 - 9:46pm

How a financial bailout works

How a financial bailout works

It is a slow day in a damp little Irish town. The rain is beating down
harshly, and all the streets are deserted. Times are tough, everybody is
in debt and everybody lives on credit.

On this particular day a rich German tourist is driving through the town,
stops at the local hotel and lays a €100 note on the desk, telling the
hotel owner he wants to inspect the rooms upstairs in order to pick one to
spend the night.

The owner gives him some room-keys and, as soon as the visitor has walked
upstairs, the hotelier grabs the €100 note and runs next door to pay his
debt to the butcher.

The butcher takes the €100 note and rushes down the street to repay his
debt to the pig farmer. The pig farmer takes the €100 note and heads off
to pay his bill at the supplier of animal feed
and fuel.

The guy at the Farmers' Co-op takes the €100 note and runs to pay his
drinks bill at the friendly neighbourhood pub. The pub owner slips the
money along to the local prostitute drinking at the bar - who, in spite of
facing hard times, has always gladly offered him her 'services' on credit.

The hooker then rushes over to the hotel and pays off her room bill to the
hotel owner with the €100 note.

The hotel proprietor quietly replaces the €100 note back on the counter,
so that the rich traveller will not suspect anything. At that moment the
traveller comes down the stairs, states that none of the rooms are
satisfactory, picks up the €100 note, pockets it and leaves town.

No one has produced anything. No one has earned anything. However, the
whole town is now out of debt and looking to the future with a lot more
ScottJ · Nov 10, 2011 - 9:47pm

All of this chatter is subconsciously...

Building the framework for the greatest day in human history!

FREE YOURSELF! We are almost there TURDVILLE! Keep it up!

The more you interact the more we free ourselves.

Hat tip everything, interact like crazy, post whatever your thoughts are.  It is all a healing process.

Let it all go!!! Humanity is on the brink of a Revolutionary moment!!!!

I know it all sounds too good to be true, but I see it all. I had an intense realization on 10/28/2011 at 9:33PM. We are all universal energy. Just keep being yourself and it will all come.

The world is not doomed.  The world is about to move into something nobody here can imagine. I see it all, just keep it up. We are almost there!!! We all have to get there for ourselves. Nobody but YOU can help yourself.


Silver is about to go wild!!!

ScottJ · Nov 10, 2011 - 9:48pm


Turd Can you follow me on twitter? You are the missing link :)


ScottJ · Nov 10, 2011 - 9:50pm

I endorse being yourself, not presidential candidates

The names we speak and the numbers we say are all subconsciously healing us. I am the first person to figure it all out but it is merely because of my birthday. We are merely spiritual beings living in human form. The end of primitive consciousness is upon us. Welcome to the new era for humanity.

You guys do not realize it yet, but every thing you read and absorb is filling the black holes in our consciousness. Tweet, Facebook, Add Friends, Do EVERYTHING!!!!

The more we interact the more the pain will go away.

Iceberg · Nov 10, 2011 - 9:51pm

Cold Dead Hands

If you can't touch it, you don't really own it. I got my stack in my safe next to my Glock - granted, it's nowhere near 5000 oz. But seriously, what in the world was the exit plan on that devastating decision? Our kind host Turd always reminds us to "Plan Accordingly". On that note, I think we should remind all Turdites of the 7 P's....

Prior Proper Planning Prevents Piss Poor Performance

Dr G · Nov 10, 2011 - 9:52pm

Sorry, but hat tipping is not

Sorry, but hat tipping is not a healing process. Interacting on social media is not a healing process. The only relationships that matter are those with your family and loved ones. What you are posting is just a bunch of esoteric mumbo-jumbo. It takes real WORK to get things done, and most of the time that is not done while sitting at a computer.

You are either drunk or high. Maybe both.

I'd love for silver to go wild. I think it will, but I don't know how soon.

DaddyO Pining 4 the Fjords · Nov 10, 2011 - 9:54pm

@Pining 4

Several years back I made a conscious decision to cash out all my accounts and invest locally in things I had direct control. I have not regretted the decision for one second. I have become my own CB and have amassed far more than I ever could have trading. My PM cup runneth over and I have accumulated other assets that no one can touch. I have invested heavily in other tangibles, farm land, PM's of all varieties and have set back enough things(food, high speed PM's, and delivery devices, tools, equipment, spare parts, etc.) to weather most any calamity.

I would encourage anyone who has that 'still, small voice' inside them crying out to take heed and quietly consider the alternative. It can be quite troubling in the beginning, reconciling great change, however for me the results have been very satisfying and rewarding in more ways than I could have even imagined when I made the decision to get out.

I have also built a business whose profits increase as the economy worsens. Again, if something inside you is stirring, don't ignore it, explore it and act on it accordingly. Have no regrets!

Remember, even if you win the rat race, you're still a rat!!!


maravich44 · Nov 10, 2011 - 9:59pm


. it' s kind of and Old Song from Billy Jack(Movie) and I do not know how to post it but listen to *One Tin Soldier* Best. ...

Shill · Nov 10, 2011 - 10:03pm

Thank you for the Update

Thank you for the Update Turd.

Racketeering is a conspiracy to commit a crime.


(5) “pattern of racketeering activity” requires at least two acts of racketeering activity, one of which occurred after the effective date of this chapter and the last of which occurred within ten years (excluding any period of imprisonment) after the commission of a prior act of racketeering activity;

The recovery begins when certain people are behind bars for treason, interfering in Financial Markets and corruption.

Thieves writing laws never ends well, history taught us this.

Economical Disaster · Nov 10, 2011 - 10:05pm

You're DREAMING if this won't Hit us ALL TOO

Eurozone collapse 'will send continent into depression'

The collapse of the eurozone would cause a crash that would instantly wipe out half of the value of Europe's economy, plunging the continent into a depression as deep as the 1930s slump, the president of the European Commission has warned.

Jose Manuel Barroso issued his chilling warning as France began diplomatic overtures to create a eurozone vanguard, potentially with fewer than the 17 existing members of the single currency.

Mr Barroso said that if the euro area of the 17 member states or the wider 27-country EU broke apart the estimated initial cost would be up to 50 per cent of European gross domestic product. "It would jeopardize the future prosperity of the next generation. That is the threat that hangs over us," he said.

Read more:
Be Prepared · Nov 10, 2011 - 10:06pm

We Stand....We Fall....Together

I have been known to see the $hit world we live in and not be able to see the goodness. It is self evident that the norms and mores of this country are under great assault by people who have become greedy and self-righteous. I see the Constitution being shredded every day a little more by the ever increasing role of the Patriot Act and the demonizing of individual rights granted to us by the Creator, himself, and not by any worldly government.

But I've had a stranger give me a jump when my car wouldn't start.....I've had a neighbor bring over a dinner plate just because I helped push her car out of the snow...... my hope is my family. They are not perfect and, most certainly, neither am I. We must take every action to bring our government, our corporations and the EE to bear and pull them back into alignment with our foundation as a nation. I hold the most hope that whatever may come.....I will have people around me who do stand for goodness and still see that we stand or fall....together.

Prize Fighter · Nov 10, 2011 - 10:07pm

I hate to say it, but most

I hate to say it, but most people don't or won't care until something happens to them personally. I'd say most of us have known the system is corrupt otherwise we wouldn't be here. So why do many of us still have trading accounts?? Because it won't happen to me? Hell you don't even have to use leverage to get hurt now. They just take it! Until one has a personal MFG experience, most won't do a thing.

Sneed Hearn · Nov 10, 2011 - 10:08pm

If some among you fear taking

If some among you fear taking a stand because you are afraid of reprisals from customers,clients, or even government, recognize that you are just feeding the crocodile hoping he'll eat you last.- Ronald Reagan, 1964


The road back to my inner peace, which made me feel fortunate to be living in these times despite it all, was not through any knowledge found in Mises or Hayek, but by my study of a classic of self-actualization, Be Your Own Me, by Spinal Tap lead singer and philosopher David St. Hubbins. I absorbed its main message on the true path to inner peace and fortunate feelings. That message is, in the words of the great man himself, "take your sadness and shove it up your ass" – and there you will find your bliss.

paulindoon maravich44 · Nov 10, 2011 - 10:11pm

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