The Latest BLSBS

221
179
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.

https://www.zerohedge.com/news/key-charts-nfp-report-records-jobless-duration-and-people-who-want-job-civilian-labor-force-plu

Here's something that does matter:

https://www.businessweek.com/news/2011-12-02/bank-of-korea-boosts-gold-reserves-for-second-time-this-year.html

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.

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  221 Comments

Louie
Dec 2, 2011 - 11:24am

More Hat Tips?

Dear Mr. F,

Have you ordered the hats yet? With the news that the site lost money in November, how about re-opening the hat offer for another 48 hours?

Louie

Maryann
Dec 2, 2011 - 11:25am

Good morning Turd..and everyone

Thank you TF for the post and sharing your thoughts. I too want to offer words of encouragement.

I have been reading the blog the past few weeks and am aware the division has heated up. I have been thinking through what I believe and questioning. Here are some thoughts I have had. What do you do when you don't have all the answers and exact information? I look at the source of info. When someone presents a different side but is hateful and angry with words on a consistent basis, I have to question their purposes. Are they trying to purposefully mislead me? There may be people here on this site who have evil purposes but come across as reasoned initially, but as time goes on reveal themselves to be deceivers. "By their fruits you will know them."

Other times, all of us will just lose our temper and rant, and that is understandable. I guess what I'm saying though is that character gets revealed during trying times, and I think I am seeing that even here. Some here I disagree with, but they display good character and respect toward others. Some here cannot tolerate a different world view and cause dissention and chaos. TF, please don't get discouraged by the chaos. It will continue, but as long as you continue to stand up for what you believe in the manner you have been doing, I will support you. That is one thing I will do. I will sign up for a monthly donation, as Jacey and Louie suggest, and others too.

Beck says he thinks we have about an 18 month window to continue to prepare. I don't know if he is right or not, but I want to err on the safe side and I am committed to doing the best I can for my family and friends during that time. This site helps inspire me, keeps me informed, and the community here encourages me. Let's all do what we can to keep it a beacon of light and goodness!!

Dec 2, 2011 - 11:26am

Trolling for $$$

Thanks to all who have donated money this morning. You know I appreciate it and you will be receiving a thank you shortly.

Please understand, however, that this post was never intended to be taken as a request for money. That never has been...and never will be...the focus of this site or my individual posts. The fact that traffic is down and ad revenue has decreased is part of the deal. I can handle it. In fact, I'm going to ne visiting with Ron within the hour to discuss ideas as to how to increase ad revenue to fund the things I want the site to add in 2012.

Again, additional donations are very much appreciated but not necessary. That said, thank you all for your ongoing encouragement and support.

murphy
Dec 2, 2011 - 11:26am

DONATE!!

Speaking for myself I enjoy hundred of hours of education and entertainment here. I have made so many smart, funny and caring new friends. None of this would have been possible without TF's website. I have paid for numerous pay newsletters that don't provide the benefits that this one provide. I for one want to do everything I can to keep this site in business. I hope others do as well.

Be Prepared
Dec 2, 2011 - 11:27am

Concealment of Big Brother's Eyes

@HeNateMe -

It's more than scary to actually see the lengths by which Big Brother and the EE Gang will go to ensure they domination over us. Pretty soon...they will be using Personal Identification Cameras that you are required to where on your person at all times. Did you take the job??

iceman321
Dec 2, 2011 - 11:29am

Question for Turd Community

APMEX has a sale on Pamp Suisse 1 ounce gold bars....$39.99 over spot. What do you guys think about this deal??? Good??? I don't know much about Pamp Suisse besides they are usually more expensive than all others.

AC_Doctor
Dec 2, 2011 - 11:29am

Is Korea taking physical delivery of their metals?

The real question is Korea taking physical delivery of their newly acquired metals or are they going to pull a Bank of Mexico and leave it at the Bank of London or LBMA...

AC

treefrog
Dec 2, 2011 - 11:30am

one minute spot silver chart

nice little inverted head and shoulders forming just now.

Moderator Jane
Dec 2, 2011 - 11:30am

The site has not been corrupted by "banksters"

Pardon me, but I can't let this comment pass by without response:

kliguy38 wrote: "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....."

There are two things going on here.

1) Many oldtimers have been using the "Speakeasy" topic in the forums for their general banter, which has been very helpful in keeping the blog comments more on topic and open to new participants. Overall, this has been a positive thing.

2) We are aware that there is a small group of malcontents on the site who have responded to any sort of moderation as if it were some sort of conspiracy. Some of these folks are active posters who have contributed positively to the website in many ways, but who also cause problems by flaming moderators, flaming newbies, and in general contributing to a hostile environment.

It's probably one of these folks that gave you the idea that somehow "banksters" have taken over the moderation, which is (I'm sorry) just laughable.

I'm about as far from a bankster as it gets. The other moderators work their butts off to help keep this site civil, and they don't get any financial reward - instead of getting thanks for their efforts, they get spit upon by some of the most vocal and unruly members.

BTW, the website was developed by a small business, not some big corporation. Not banksters.

So while you're thanking Turd today, maybe you might also consider thanking the moderators for putting up with a lot of grief in order to help nurture this community. Yes, we're having some growing pains. Yes, some people who were here before left (but most of those were troublemakers.) And I'm sorry to say, if they keep it up, some of the more nasty people still here might be on their way out to make room for nicer people - but that is ultimately their choice. I'd love to see people stay, but not if they are just going to gripe, sow seeds of discontent, and flame.

But in the long run, we're hoping to set the stage for a strong community that provides value to folks, vs. the constant flaming you might see elsewhere.

Brotha Bob
Dec 2, 2011 - 11:30am

First, thanks Turd

First, thanks Turd for all you do. And, you know I appreciated because I too put my money where my mouth is. For those who don't support Turd is his efforts, sham! Second, OWS needs a message other than anti-this, anti-that, drug and crime. Sure there is a lot to be upset about. Wall Street, Washington, Europe, the CB's ad infinitum. I support the Tea party more, for they stand for limits on power, a constitutional government, personal responsibility, freedom and liberty! Out demanding free stuff from others is not a movement make. Those are my views, and frankly don't care if you agree or not. But, this still being the US, I do believe I have a god given right to them. It is a very scary world we are living in. Enemies are all around. I have said it be fore and will say it now, "May God have mercy on us all." What I fear is coming, total collapse of civil society, will rock everyone's world. I pray it does not come to that.

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Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
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Key Economic Events Week of 9/9

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