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 ()


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.

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
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!!!

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