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 ()


Ag Feevah
Dec 2, 2011 - 4:55pm

Fed the Turd

Thanks Turd!

Lurking since day one, I registurd and fedtheTurd! What a feeling. It reminds me of surreptitiously covering lunch or dinner for a Navy bootcamp grad from the nearby Greatlakes Base when they are out with their families after the ceremony at a local restaurant. Strictly anonymously is the fun part for our kids when they're with us.

I want to have and have others be able to have the reassurance of the community here with what is coming. I won't be posting much if at all, because it takes all of my spare time to get through the reading and searching here and web-wide. The volume of content is too much to digest and contribute for this lurker.

Thanks to all for your input. Because of the great content here, I have been able to convince my longtime (and still teamster) union member parents to buy their first ASE's and now they're stackers too. Couldn't have done it without TFMR!

Let's have a great holiday season, pray we are almost all wrong about our sheeple, find out Bix was right, make alot of money on PMs to share with those that need it, and give Turd the best 2012 we could ever imagine.

Dec 2, 2011 - 4:57pm

The T-shirt sale is still on at the store

Half The Price, All The JOY! 50% OFF Shirts & Cases + Free Ship On $50+! TODAY ONLY! Use Code: HOLIDAYSALE2

Click on STORE at the top of this page. Feed the Turd and get a t-shirt at half price. Pays to advertise!

Dec 2, 2011 - 5:03pm


Everyone likes pie !

Dec 2, 2011 - 5:04pm

Buying physical on Saturdays

The weekend is upon us so thought I'd share a few comments about buying physical on Saturdays. May seem obvious to most but I believe it is worth noting, especially with the ever increasing headline driven action of late. And, yes, I realize that long term it matters not what day of the week you decide to add to your stack.

I typically do not buy physical on Fridays. If I'm itching to buy on a Friday afternoon, my preference is to usually wait until Saturday. Why? First, physical dealers are open on Saturdays. Second, the frequency of market driving headlines emerging after a Friday close (or over the weekend) seems to be increasing. Third, the physical one buys on Saturday is usually priced at Friday's close - so you get the benefit of another 24-hr window for breaking headlines at Friday's price. Fourth, there are active PM markets trading on Saturdays, such as the Indian PM market (shortened trading day on Saturdays, I believe). So, for example, if you get some headline after Friday's close and you want to peak at how the limited Saturday PM market action is responding to it (e.g. Indian PM market) before you pull the trigger at your local dealer, you can.

I remember buying physical the Saturday afternoon after it was announced (Friday evening) that the U.S. was downgraded. I checked in with fellow Turdites that Saturday morning and one of you was kind enough to post a link to the Indian PM market. I checked it out and Gold and silver were of course blazing, making my Saturday buy even more of a no-brainer. They are all no-brainers, to be sure, but it is icing on the cake when you can leisurely buy on a Saturday right before a big Sunday night/Monday morning pop.

Happy weekend to all.

Dec 2, 2011 - 5:12pm


The CME has posted their trading volume statistics for the month of November and unsurprisingly the silver volume has dropped off 42% due to the MF Global lockout. Here's the CME data... As you can see the Silver futures contract volume dropped from 2,282,155 contracts (11.4B ounces) in Nov 2010 to 1,327,376 contracts (6.6B ounces) in November 2011. Yes, those are BILLIONS OF OUNCES of paper silver trading back and forth from bankster to bankster to fix the price of silver AND yes it is pure fraud and why nobody on earth knows what physical silver is REALLY worth today. This year the CRIMEX will trade over 20,000,000 paper silver contracts or over 100 BILLION OUNCES of paper silver. Considering the COMEX warehouses claim to hold about 100M ounces of physical silver that's a paper to physical silver ratio to 1,000 to 1. Apply this to ALL SILVER MARKETS and you get the idea. Here's the text of my speech at the Silver Summit this year... Understanding Silver Manipulation - Part 1 Understanding Silver Manipulation - Part 2 Once you understand that the banking cabal controls all markets with massive derivative leverage you can also wrap your head around the fact that THERE IS A WAY TO DESTROY THEM. The Silver Bullet will be the weapon of choice for the Good Guys. Buy your Silver Eagles TODAY... ...and buckle up for next week. May the Road you choose be the Right Road. Bix Weir

boatman Economical Disaster
Dec 2, 2011 - 5:30pm

@econ disast

stock pickers hate gold because it doesn't take a stock picker to pick it.

Turdle GG
Dec 2, 2011 - 5:32pm

Turd, keep up the good work, mate


Though I'm pretty busy these days and am not contributing much to the ongoing conversation, I look to you everyday for your excellent commentary.

The little yellow hat icon in the bookmark bar of my web browser is always there, reminding me to keep checking in on what the mighty Turd is thinking.

They whacked the senior miners pretty hard today.

Economical Disaster
Dec 2, 2011 - 5:46pm

More Doom! This is REAL DOOM!

70% of World’s Raw Chocolate Soon To Be Genetically Modified December 2, 2011 By T Kelly 3 Comments

With the intention of flooding 70% of the global cocoa supply with genetically modified (GMO) cocoa tree hybrids, a collaboration involving Mars, USDA and IBM is accelerating this process.

With primary funding from US chocolate producer Mars, the partnership includes scientists based at the Agricultural Research Service (ARS) of the US Department of Agriculture and Science as well as researchers working at IBM’s Thomas J Watson Research Center.

The scientists are determined to finalize gene sequencing of the cocoa genome which they say will “benefit” the chocolate industry and cocoa growers in West Africa where 70 percent of the world’s cocoa is produced, and in other tropical zones.

Dec 2, 2011 - 6:03pm

At the end of the day, the

At the end of the day, the only thing that will make any difference at all is if we can - each of us - look into our own hearts to see what is there. Like you said, who are "we" to step over a dying man at Walmart to get that X-box or whatever the hell it was.

This much I know for absolutely certain. "The poison" is in each of us. Whatever drives Mr. Bankster to collect that next billion is the same thing that drives me to make that next thousand. "The poison" is in each an everyone of us. The best that any of us can do is to look inside and find the truth.

I managed to get sucked into "politics" this week. Started ranting and raving about the US Senate's gleeful tossing of "rights of the arrested" into the bonfire of fears. But, now, I can see that what I consider Bill of Rights 101 is mostly just listened to by others as more political noise. Fair enough. Maybe it is. After all........over half of the Senate thought that tossing the Bill of Rights into the bonfire this week was a really good idea.

Anyhoo........I am.....once again.....out of politics. There is nothing that I can do there.

But, just maybe, I can take a look at the agressiveness and selfishness that lives inside of me. Seems like a good place to start.

As for the "gloom and doom" talk........I would hope that I can start looking at how we are going to build the future and use the upcoming collapse as an opportunity.

Dec 2, 2011 - 6:10pm
Dec 2, 2011 - 6:13pm

Costa Rica

Hi everyone, I received a few endorsements of New Zealand as a wonderful place to live. Does anyone have an opinion on Costa Rica and/or books they would recommend reading?

I'm in a research mode now - thank you in advance

Syzygy Irish-Mic
Dec 2, 2011 - 6:18pm

Indian PM market

Irish-Mic, thanks for this good idea. Would you post the link for the Indian PM market please?

Nick Elway
Dec 2, 2011 - 6:19pm

The seven no votes

The seven no votes
S. 1867: National Defense Authorization Act for Fiscal Year 2012
Nay IA Harkin, Thomas [D]
Nay KY Paul, Rand [R]
Nay OK Coburn, Thomas [R]
Nay OR Merkley, Jeff [D]
Nay OR Wyden, Ron [D]
Nay UT Lee, Mike [R]
Nay VT Sanders, Bernard [I]


Dec 2, 2011 - 6:37pm


Stephanie I read your post on the first page about OWS. On the one hand you make some good points. On the other...this thing about action. I have seen just a fraction of the regular posters (Turd himself) make any strong points about taking action. I have suggested previously that perhaps the website should have a list of actionable items turdites could take, there could even be a poll against those items to allow the community to show which ones they consider are most important. Perhaps there could also be a list of corporates to be avoided? And list of suggestions how to avoid feeding the EE?

I realise a lot of the posters and readers of this website are likely intelligent enough to take steps on their own, but theres a huge difference between running a blog, which is essentially just a place where people exchange ideas, than running a political movement. One takes CONSIDERABLY more co-ordination and planning than the other, so yes it is extremely unwise to criticise OWS even if they don't seem very fact someone must be a whole lot more organised than you think. Whats really needed is for like minded people to begin organising and executing around priorities, as a very basic starting point to that should mean a very clear list of ideas is somewhere present on this website.

tyberious Nick Elway
Dec 2, 2011 - 6:52pm


I'm in WA, wrote both of my traitorous Senators and we see how they voted. Been thinking about moving south for a while.

Oregon where the trail and your freedoms ends!

They should put that their tourism advertisements.

Eric Original
Dec 2, 2011 - 7:15pm

Turdle GG

Been a while. Welcome Back.

Dec 2, 2011 - 7:26pm

Seven senators who voted against s1867

Sen. Thomas Harken (IA), Rand Paul (KY), Thomas Coburn (OK), Jeff Merkley (OR), Ron Wyden (OR), Mike Lee (UT), and Bernard Sanders (VT).

Dec 2, 2011 - 7:28pm
Dec 2, 2011 - 7:29pm

Hey Turdle

Nice to see you around. You must have been really busy his whole time.

Welcome back!

Dec 2, 2011 - 7:35pm

MF Customer: $50M Commodity Account Gone! Poof!

MF Customer: $50M Commodity Account Gone Q By Linda Sandler and Thom Weidlich - Dec 2, 2011 4:40 PM ETFri Dec 02 21:40:23 GMT 2011

Highridge Futures Fund LP, a customer of the MF Global Inc. brokerage, said its $50 million account with the defunct company is “missing.”

James Giddens, the trustee liquidating the brokerage, has“failed and refused” to provide any information about the whereabouts of the account, Highridge said in a filing today inU.S. Bankruptcy Court in Manhattan. Highridge asked the judge handling the case to order Giddens to locate and transfer the account, containing mostly cash and also unsettled commodity positions.

Highridge described itself in the filing as a registered commodity pool incorporated in Delaware, with a general partner that is an Illinois company.

Giddens has transferred about 38,000 commodity accounts to other firms, and said he plans to sell 330 securities accounts. Three transfers of collateral made and pending will give commodity customers about $4 billion of their assets, according to court filings.

“Highridge’s account was not among the accounts transferred,” the fund said. “This account is nowhere to be found.”

Dec 2, 2011 - 7:39pm

IMF’s New European Chief Shakes Up....

IMF’s New European Chief Shakes Up Dept. By Sandrine Rastello - Dec 2, 2011 3:28 PM ETFri Dec 02 20:28:33 GMT 2011

Reza Moghadam, who took over European operations at the International Monetary Fund last month, shook up the department by appointing three new deputies as the fund prepares for deeper involvement in the euro region’s debt crisis.

Mahmood Pradhan, Aasim Husain, and Rodrigo Valdes will all join from other departments as deputy directors, according to an internal announcement dated Nov. 28 and obtained by Bloomberg News. None of them is a citizen of a country of the 17-nation euro region, where the IMF is co-financing bailouts to Greece, Portugal and Ireland and is preparing to send a team to Italy to audit the country’s efforts to reduce its debt.

“They are all of course superb economists, but they bring much more to us at these trying times for the department,”Moghadam, a U.K. citizen, said in an e-mail to some IMF staff members. “They have all been intellectual leaders within and outside the Fund, with enormous depth and expertise.”

Moghadam on Nov. 16 was named to replace Portuguese national Antonio Borges, who resigned for “personal reasons”less than a year into the job. European finance ministers said this week they would seek a greater role for the IMF alongside their own bailout fund in their bid to tame the euro region’s sovereign-debt turmoil.

“These three people had not worked on Europe before,”said Eswar Prasad, a senior fellow at the Brookings Institutionin Washington and a former IMF economist. “They don’t bring any baggage with them so they are in a sense free to think newly about how the IMF ought to be engaging with Europe in these difficult moments.” (DPH: LOL!)

Dec 2, 2011 - 7:39pm

Along The Watchtower and TF

Along The Watchtower and TF Metals has helped me to look beneath the surface...

and gain a bit of understanding. A wealth of information is found here, from many perspectives.

So wealth can be measured many ways other than just $... it would be sad for us to "mismanage" Our "Savings Bank" here at TF Metals.

The "Head winds" and manipulation at work in the PM markets have strained folks resolve. Overall tough economic situation, combined w/ heavy price manipulation of PMs, has of course a negative effect on the site growing. I bet If we enter a small rally in prices, there would be a few new faces pop up around here.

Few weeks back I saw a piece written by Turd, referenced on Coinflation's site. thought that was cool.

Also, I like this vid from TF the day the new TF Metals site opened. worth watching even if you have seen it!

New Site For TF Metals Report
Dec 2, 2011 - 7:41pm

Much love

Hey Turd,

You da man ! Hang in there and thank you brother. I am one of those lingerers that always looks but, have never posted. No longer. What you have done with your videos, postings and interviews has been a huge help to many people. Cranial anal inversion is a curable condition. I once had it and may again in the future if I forget where I came from. So as hard as it is sometimes you have to just not pay attention to folks suffering from this truly American condition.

Dec 2, 2011 - 8:01pm

Costa Rica

My brother has visited Costa Rica and loved the place. I know some friends who invested in real-estate and bough business. They are doing well. It used to be a bargain 10 years ago, but now the prices are much higher. Many Americans and Canadians go there for the winter. I don't know anyone who lives there permanently. As far as New Zealand, it is called a paradise on earth, but very difficult to be able to immigrate there.

Dec 2, 2011 - 8:07pm

The World from Berlin

The World from Berlin: Central Banks' Coordinated Move Has Solved Nothing'

Global stock markets on Wednesday were euphoric after the major central banks around the world made it easier for banks to access dollars. But the euro-zone debt crisis rages on nonetheless. At the most, say German commentators, Wednesday's move merely buys some time -- but not much.

​On the one hand, Wednesday's coordinated effort taken by central banks around the world provided a needed shot in the arm to uneasy global stock markets. It was a clear message that the European Central Bank, the US Federal Reserve, the Bank of England and the central banks of Canada, Japan and Switzerland were not going to leave the global economy in the lurch.

​The link for rest of the story is here.

Dec 2, 2011 - 8:12pm

Keep the faith

The problems are systemic and growing. Like Washington at Valley Forge, no one can give up, but must continue to press on. Keep the faith, Turd. Keep the faith.

Dec 2, 2011 - 8:13pm

Rick Rule - Gold Mania & Sprott's Letter to Silver Producers

Rick Rule - Gold Mania & Sprott's Letter to Silver Producers

Rick had this to say about the Sprott’s letter, “I think it’s brilliant and I think the silver producers ought to listen, in particular some of the small silver producers where Eric owns more of the company than their senior managers do. The fact is that silver producers are being asked by their shareholders to have a view on the silver price, not merely to have a view about their salaries and options.

“The silver investors, by and large, are silver-centric and believe in higher silver prices. And certainly the idea that investors would invest in a company that gives them some relief from the economic consequences of owning fiat currency, only to have the company that they had invested in store its own wealth in that same fiat currency is an absurdity.

The rest of he article is at King World News blog and the link is here.

Swift Boat Vet Nick Elway
Dec 2, 2011 - 8:19pm

Use them to line the walls of your bunker of doom.

Nick ! You are a genius!


Dec 2, 2011 - 8:24pm

My Two Silver Cents

I don't envy your position one bit, Turd. Once in a while when someone gets too big too fast, his ego swells faster than one can manage. Yes, there will always be differing opinions. They are not meant to put anyone down. They are supposed to keep us all analytical, grounded, well-balanced, and our egos in check. There's no reason to be defensive. Let's be honest to ourselves. Your last post wasn't at all fruitful. What exactly were you trying to achieve? To confirm to the PM oyster-world that you were better than those kids and you had Toyota Corolla to back you up? Here's the bitter truth...what you are doing with the site while may be honorable, does not measure up to those on the street taking action and making their voices heard, risking their reputation (getting negatively labeled by people who have nothing positive to contribute). You may help people on TFMR to make some fiats for now (for those who trade). But money, PM's aren't worth a darn thing esp when everything falls apart and you know it. That, sadly as we feel, will happen with or without OWS.

Nobody expects anyone to support these kids. However, criticizing and not offering a better solution is worse than being passive. Get off your high horse and teach those kids what you know. You may not enlighten them all, but you may be surprised ...with your great communication skills may be able to change the views of quite a few of them. Make right what you think is wrong, my Momma always told me.

As for your losing money on the site, I have one humble suggestion: do what Harvey Organ & Dan Norcini do. Stick to free website/blog. I don't see them (Harvey & Dan) asking for nor hinting at donation...which is a lot less headache, IMHO. There are a few options out there that would provide excellent features. Of course, you will have to relinquish some (I mean heaps of) control. What do you say? Personally, I feel you were a much happier man with your blog than with the website. That comes across markedly in your writing. Besides, I don't see great value added to the one-year-old website which many had not already gained in your Along the Watchtower Blog. It's been over a year...maybe time to reflect?

Shnozberries Be Prepared
Dec 2, 2011 - 8:25pm

On a day where it is

On a day where it is announced that, once again, more and more people are leaving the labor force pool and essentially giving up I read an updated story in my small suburb newspaper that says "our" serial bank robber has just robbed his 10 and 11 banks at gunpoint. This spree started about a month ago in our "safe" community and the officials essentially have nothing to go on still. These are the days that scare me the most. Employment is getting worse and worse and the desperate are getting bold and well...desperater. While this does all help me make my case to my wife that we need to do more and we are not invincible just because we are in a safe neighborhood, I can't help but struggle with the stress of doing all I can to make sure my daughter can grow up as I did...a carefree kid. And it is especially hard to get excited about trying for a second child while knowing what kinds of things I would be exposing to such an innocent being. If people are easily getting away with solo gunpoint bank robbery 11 times over, why shouldn't I expect more gangs to form and brazenly hit the sheepish suburbs where no one locks their doors. As this gets worse and worse I'm now thinking I need bars on my windows and underground panic rooms as this is turning in to an all out holocaust. Tread lightly, my new friends.


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Key Economic Events Week of 3/25

3/26 8:30 ET Housing Starts (Feb)
3/27 8:30 ET Trade Deficit (Jan)
3/28 8:30 ET Q4 GDP final guess
3/28 10:00 ET Pending Home Sales (Feb)
3/29 8:30 ET Personal Income (Feb)
3/29 8:30 ET Consumer Spending and Core Infl. (Jan)
3/29 9:45 ET Chicago PMI
3/29 10:00 ET New Home Sales (Feb)

Key Economic Events Week of 3/18

3/19 10:00 ET Factory Orders (Jan)
3/20 2:00 ET FOMC Fedlines
3/20 2:30 ET CGP presser
3/21 8:30 ET Philly Fed
3/22 9:45 ET Markit PMIs
3/22 10:00 ET Existing Home Sales
3/22 10:00 ET Wholesale Inventories (Jan)

Key Economic Events Week of 3/11

3/11 8:30 ET Retail Sales (Jan)
3/11 10:00 ET Business Inventories (Dec)
3/12 8:30 ET CPI (Feb)
3/13 8:30 ET Durable Goods (Jan)
3/13 8:30 ET PPI (Feb)
3/14 8:30 ET Import Prices (Feb)
3/14 10:00 ET New Home Sales (Jan)
3/15 8:30 ET Empire State Manu Index
3/15 9:15 ET Cap. Util. & Ind. Prod.

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