The Latest BLSBS

Fri, Dec 2, 2011 - 9:58am

My once-a-month tune in to CNBS lacked drama and fun this morning. As if by magic, the U.S. unemployment rate is now 8.6%, a number driven primarily by people giving up and leaving the workforce entirely. Oh but all is well. The GPO (Government Propaganda Office - my new term for the mainstream media) will pick up the 8.6% number and run with it all day. Bliss and prosperity have returned! All is well!

At any rate, here's the only BLSBS reporting that has any significance.

Here's something that does matter:

Be assured that this is only a continuance of a trend. "Creditor" nations with massive dollar holdings are diversifying by selling dollars and buying gold. Can you blame them?

Regardless, the PMs, which had been higher overnight, have been beaten back. Big surprise. Gold, which had traded all the way to 1765 is now back to 1750. Silver reached 33.70 but now is back to 33.10. Regardless, the charts look fine and I'm very very comfortable with the December forecast I gave you Wednesday night.

Lastly, just a few words about last night's post.

First of all, I am neither "bored" nor "desperate". I thought Carolla's rant was topical primarily because of what he had to say regarding the youth of America and the environment in which they have been raised. Participation medals and all that. It was presented without comment because I wanted to wake up this morning and see which direction the conversation headed.

To me, the problems with this country are far deeper than simply banker oligarchy. Is the current kleptocratic cronyism a large part of the problem? Of course! But to stop there and fool yourself into thinking that everything will be "all better" if we just perp walk Jamie Dimon and Lloyd Blankfein is delusional.

America has become a society dominated by narcissistic sociopaths. From President O'bottom and Jon Corzine all the way down to the Black Friday Walmart shoppers who callously stepped over a dying man just to get their hands on the latest variant of the Xbox. Sure, putting the banksters in jail would feel awfully nice but if we don't address the ugliness of our current "I-got-mine-so-fuck-everybody-else" mentality, the rage and anger will simply move on to the next set criminals. Eventually, the hated "1%" becomes the people that currently reside at about the 40% level and then what have you got?

I've been criticized for not fully supporting the #occupy movement. Many write me to complain that the occupiers should be supported because "at least they are doing something". And I'm not?!? What the hell do you call this site? I stumbled into the blogosphere a year ago and now find myself dedicating and increasing amount of time and money simply so that you, the reader, can come here whenever you please to add whatever you'd like to the conversation. That I don't see ending capitalism and student loan forgiveness as primary objectives for the fight does not make me a "friend of the kleptocrats" or someone who is a "snake oil salesman" out to "promote myself and the politics of Fox News". I'm simply trying to do my part and be as honest with myself, and you, as I can. That I may disagree with you on "politics" shouldn't matter, anyway, because in the end, when the coin stops spinning and simply collapses through the bottom of the funnel, we're both screwed.

For November, the "business" of this site lost money. Not a lot of money but enough that, for the first time, I've questioned why I'm even doing this in the first place. I could be all self-righteous and claim that I'm pledging my fortune and sacred honor to the cause but what would be the point? I built this site in the hope that together we could help each other prepare for an economic apocalypse that is coming for everyone, the 99% and the 1% alike. My hope for you, my dear reader, is that you are able to find common ground with your fellow man. Divisiveness and polarity have helped to put us in this position. The solution cannot simply be more of the same.


About the Author

turd [at] tfmetalsreport [dot] com ()


Dec 2, 2011 - 10:04am



Dec 2, 2011 - 10:07am

South Korea Adds 15 Tonnes of Gold

"South Korea's central bank said on Friday it bought gold in November for the second time this year to diversify its foreign reserves, joining its counterparts in other countries in seeking protection against financial instability and inflation.

Central banks around the world, especially in emerging economies, have accelerated gold purchases in recent months, driving up the total official sector gold purchase in the third quarter by more than double to 148.4 tonnes, according to the World Gold Council.

'We bought the gold as part of our diversification strategy and based on long-term investment considerations,' Lee Jung, an official at the bank's reserve management group, told reporters.
The Bank of Korea bought 15 tonnes of gold for $850 million in November, after buying 25 tonnes for $1.24 billion between June and July in its first gold purchase in more than a decade, bringing total gold ownership to 54.4 tonnes.

The central bank of Asia's fourth-largest economy still holds only a small proportion of its more than $300 billion reserves in gold, but gold now accounts for 0.7 percent of total reserves, up from just 0.026 percent in June.

Lee declined to say if the Bank of Korea intended boost gold holdings but added its efforts to diversify away from dollars and securities was a long-term strategy."

Dec 2, 2011 - 10:09am

I for one

Appreciate the efforts, and costs there Turd. I am also one who could care less about old positions held as I see it, we're hanging onto the edge of a whirlpool.

Dec 2, 2011 - 10:12am

Good on you TF

Keep it up bro.


(Liking your charts by the way)

Dec 2, 2011 - 10:15am

Quick Feed

ah crap man, all this work and you ran a loss?

That's not good, I'm here for info, fun, and a hat when I can afford it, in that order ... oh yeah, and to make some money too, I nearly forgot about that. A few of my ever-shrinking English Pounds on its way while they still buy something...


Dec 2, 2011 - 10:16am


Occupy goofs want more freebies. "Like dude, corporations are bad?" Really azzhat, then put down your IPhone, ITablet, take your god damn North Face jacket off which you will never ski more than a bunny hill in, and put down your Starbucks...Typical union, leftist, feminist, Jesse Jackson shucksters show up and rant and rave about inequality. These clowns actually think the gubermint is going to help them. HAHAHA!! The govt is stealing them blind....OWS people incredibly weak and dumb. "Oh no man, like, snow is falling, time to goooo." Stay out and fight if you so believe in your cause. If not, STFU!!!!

Dec 2, 2011 - 10:17am

'They' are

setting up the unemployment numbers in favour for Obama so they can get him in for his second term.


The 2012 election campaign is going to be a wild sh*t show of a ride... The 44th will have an interesting end.

Its part of the cycle and 'their' plan.



Dec 2, 2011 - 10:17am

Thanks TF

As usual, much appreciated from myself for the time and passion your putting into all of this.

Try not to let the BS get you down. Were in stressful times that call for adjustments in thinking and how we approach the situation at hand. Everything is a evolution, including the site.

Hang tough and do what you have to do for the site and yourself going forward. The evolution of anything going forward can be uncomfortable because you don't know what it may look like based on the comfort level of the past.

Full speed ahead and damn the torpedoes comes to mind. Man your battle stations does not ccome to mind.

Dec 2, 2011 - 10:19am

Let's All Make Sure this site makes money in December!

Turd this site is invaluable to us. I will send you a contribution today. I request that all of us who are interested in this site make a contribution, no matter how small, this month (this Christmas season) so that that Turd can continue his good work. It makes no sense for him to lose money on this. While we may disagree on some issues, we all gain from Turd's insights. Thank you Turd.

Dec 2, 2011 - 10:19am


Thank you!

Thank you for this site. I've said it before, but it's been a while.

This site has really helped me through the painful experiences of May1, and September.

It has been a place that the little turds have posted wonderfull news items that keep me informed about what's really going on.

If you ever wonder if this site has helped anyone or if it's been worth it, well it sure has been worth it to me.

I am VERY greatful for your sacrifice.

Dec 2, 2011 - 10:20am

Joe Biden Advisor Jon Corzine Forced To Testify On Alleged MF Gl

Dec 2, 2011 - 10:21am


Thanks for your time and dedication turd.

for you!

Don't let people get to you, there is always discussion and people with different views but on this site it has been keept at a good level.

Moderators step in with some cooling words from time to time but at a whole there is alot of respect and good discussions here, not much flaming or personal attacks.

Keep it up everybody!

Be Prepared
Dec 2, 2011 - 10:21am


Turd, my friend, you have done more in the fight to raise the alarm of the real crisis....the real issues...then all of the OWS. It doesn't mean that what the OWS has done is not something worthwhile, but education and the opportunity to discuss how the wheels of the machine are ever increasingly crushing priceless. Your efforts and Your time are a gift and I appreciate all that you do, so stand tall and know that you have made a difference...are making a difference. Thanks!

Be Prepared
Dec 2, 2011 - 10:24am

More People falling out of Unemployment

A grand total of 576,000 people were welcomed into the ranks of the "Not in Labor Force", which swells to another record of 86.757 million.

The number of employed only rose by 83,000, as the unemployed fell almost 500,000 to 12.613 million. Oh, and the civilian labor force - which should grow month-to-month - declined by about 400,000, and is now below the November 2010 level.

Clearly, the trend has been set: The official unemployment rate is quickly falling, but the number of people in our population who are retiring or simply giving up is rising just as dramatically, if not more.

We could be well below 8.0% in "official" unemployment by next November, but that would be outweighed by the reality of nearly 90 million people doing nothing. Then again, since when has real reality mattered in this country we call "Amerikkka"?

The gov't math makes it such that if you are unemployed long enough, you're no longer unemployed. Feel free to puke when Obama goes on the campaign trail and announces how he has "cut unemployment" and parrots this headline rate.

Oh, I guess my First...first.

Turd.....You rock always....My friend

Dec 2, 2011 - 10:25am



Dec 2, 2011 - 10:28am

Turd, Don't be discouraged.


Don't be discouraged. Retired (unemployed and forced into retirement) person like me from India with limited resources have chipped in and fed the Turd. I myself and some others around me VALUE your contribution and greatly appreciate what you are doing for the society.

I am sorry that site lost money this month, but things are going to change once Gold/Silver break out of trading ranges.

Question: Some people on a day trader forum, question your wisdom and proclaim that there is no manipulation on comex/lbma or for that matter believe that there is NO Gold/Silver price suppression. I know, you must have read these statements, but not reacted in any way, WHY ?


Eric Original
Dec 2, 2011 - 10:29am

Good on you Turd

We are all fighting the good fight as we see it. We don't all see it exactly the same, and that's fine. At least we are doing something.

Dec 2, 2011 - 10:29am

If we lose this site thru

If we lose this site thru financial costs where will we congregate? Our guru, Turd, is/has done us ll a GREAT service by his selfless act of putting up this vehicle using his own fiat. Also keep in mind that MF costs Turd some $3100 out of his pocket.

I join Cavalier in possing that if one is in a position to aid our Turd, thgen please REALLY consider doing so.

OH and Turd, I am so personally thankfull to you & Mrs Yogurt for your selfless contributions. You are a true & honourable "gent".

Dec 2, 2011 - 10:29am

Hit Dat Der Donate Button!

You will feel happier than Dragline watchin ole' Luke eat 50 Boiled Eggs, you really will.

Dec 2, 2011 - 10:34am

Your efforts are greatly appreciated


I come by most days mostly to read your posts and charts and some of the great content submitted by the community. I dont contribute very often as my views or observations are often captured by others. I do however appreciate all the hard work you put into the site along with the moderators and regular contributors.

So Thanks again from Buckinghamshire, England....

Dec 2, 2011 - 10:34am


My guess is you have someone in your ranks now from the bankers.... Your site has/had caused some attention and it would be expected to find your ear quickly. Look around you now and see who your new "advisers" are and beware. The increased "moderation" of some posters has had an obvious negative feedback to debate here..... not seeing some the most insightful posters anymore. Its your site so its obviously your decision but it appears to be having an impact.....

Dec 2, 2011 - 10:35am

Thanks Turd

I just dropped a small fiat bomb in the "Donate" hole.

Dec 2, 2011 - 10:39am

@ TURD : Sorry to hear

that your site is not profitable yet, and (as a small business owner for 25+ years) I certainly get it that you are depressed about that. I read your site a lot, and constantly refer others to it. One great feature I appreciated was the precarious balance here between earthiness and civility. Most of my friends are earthy and civil, but not obscene nor mean-spirited, and the Carolla rant is content that I could not recommend to those with whom I converse.

Silver Monkey
Dec 2, 2011 - 10:39am

I am also donating today

Turd - You provide an amazing site with unbelievable insight and "professional gambler winning %" short term PM productions. You must not listen to the noise! Laugh at their silliness instead of letting them get to you. Remember, people who would attack you over such petty stuff are not happy in their lives. They do not like to see a happy, eyes wide open individual like yourself who provides such an amazing place and is so well liked. This causes them to attack, attempting to take away the joy of those who they wish they were. This ultimately should cause you to smile and realize what a great place you are in.

Don't feed the trolls!

Dec 2, 2011 - 10:41am

Swiss Franc cap = Gold cap?

posted a link on the last thread on this and think it bears mentioning again as some of the drop in gold earlier this fall seemed to be precipitated by their actions in weakening the SF... "Switzerland’s government said it may consider additional measures including negative interest rates to aid the country’s central bank in its fight against the appreciation of the Swiss franc." ....more

Dec 2, 2011 - 10:43am

Why the lies?

Seriously, why do these creeps continue to lie for Obama? Clearly, this is designed to try to benefit all current officeholders (from both Parties, all of whom will argue about how the measures they have taken have saved the country from the certain doom of the Bush years) at the expense of the truth. And the MSM continues to spread the lies. But to what end? What does Chris Mathews get out of it? Ed Schultz? CBS, NBC, and ABC News? CNN? In the end, they, too, will go down hard--maybe harder than most others because at some point, the people will hold the whores in all of this accountable. So why do it?

Dec 2, 2011 - 10:44am


Come on folks, to continually bash #OWS for putting their bodies on the line, when most of us just sit around at our keyboard is unfair and hypocritical. Give those people a break. They are fighting against a lot of the same evils you are. To marginalize them by calling them hippies, or slakers, or goofs, or leftsist does no one any good.

I have not heard one person on this board who has ever mentioned participating in any kind of civil disobedience to protest the EE. What the fuck are you going to do? Wait until the jackboots are on your doorstep and then blast away with your AR? Fuck that! Do something real, get out on the street, and if you can't do that, then STFU about the shortcomings of others who at least are putting more than their measly .02 worth of opinion on some blog.

Dec 2, 2011 - 10:45am

CLOUDS of smoke billowed above

ZH ( has just put out a (maybe reliable) news item re a 2nd "major explosion near the Iranian city of Isfahan"

Are REAL events heating up in Iran or just provocative WORDS?

An excerpt:

"The Australian's Jerusalem correspondent Sheera Frankel reports something quite disturbing: "All eyes on Israel after second Iranian blast. CLOUDS of smoke billowed above the city of Isfahan - evidence that the latest strike against Iran's alleged nuclear weapons program had hit its target." We will report more if this story is confirmed by any other news agencies because if true it means that at this point things behind the scenes are no longer happening in the shadows."

Dec 2, 2011 - 10:48am

Speaking of shame and entitlement...

Speaking of shame, we should all be ashamed this site lost money in November. And speaking of entitlement, let our actions show we are not of the same ilk as the masses who believe they deserve everything for nothing. It would be an absolute tragedy if this community ceased to exist because we collectively chose to shamelessly perpetuate a culture of entitlement, the sort of culture against which we often rail around here. Let's turn things around in December, and thereafter. Every little bit helps.

Turd, we'll get our chit together. 100,000 thank you's to you, sir, as always, and please help us keep fighting the good fight.


Dec 2, 2011 - 10:49am

Well now I wish I would have

Well now I wish I would have bought a big yellow hat.


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