Summarizing Our Predicament

Tue, Apr 17, 2012 - 3:44pm

In the past 24 hours, two terrific pieces of "research" have been published by a couple of prominent Turdites. The presentations do such a fine job of summarizing the monetary part of our current predicament that I decided to create this entire new thread around them and begin a discussion.

Let's start with this brief presentation by Brent Johnson of Santiago Capital in San Francisco. It's concise and to the point, which makes it ideal for you to copy&paste the url into an email that you can send to every single family member or friend whom you are trying to "enlighten".

Hot on the heels of Brent's work comes this great new blog from Chris Martenson. Following along on a similar theme, Chris statistically makes the case you've heard me state around here for ages, namely that "tomorrow is NOT going to be like yesterday".

By the way, if you haven't yet, now would be a good time to listen to last week's podcast with Chris. It's about 25 minutes in length but well worth your time:

And now that you're done with these three assignments, anyone want to buy some gold?? TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 17, 2012 - 6:13pm

Obama's oil price solution

Dear BO:

If you want to lower oil prices, please do not create limits on futures contracts, in fact, you need to increase them. I suggest you put Blythe Masters and Jamie Dimon on your task force to lower oil prices. They have done a fantastic job rigging silver and gold and could do the same for oil...Give them infinite (hehe, more infinite) funny money and they will sell more contracts than the market can absorb, dropping prices at least, in half. They likely will want a couple of billion to create this "hedge" (against losing the election), but it will be cheap for a second term of awesome vacations.

This stuff is as easy as making money selling books about yourself while campaigning for presidency.

You also may want to employ the talents of your bud Lawrence Summers and have him apply Gibson's paradox on oil....sell, sell, sell. Flood the market with paper and you will have cheap oil, secure the election, and worry about the massive increase in prices next year (due to the collapse in production due to low prices).

I've got to warn you, the oil guys are gonna hate ya for this. Even the House of Saud won't like this much. But give 'em the 'ol wink and they will know that you don't really mean it. Besides, you can't rig markets forever and after the election you can use the bounce to $150 oil blowback to throw away money at green jobs!

You the man!

Go get 'em!

pedli Dr G
Apr 17, 2012 - 6:16pm

Apr 17, 2012 - 6:29pm

Important Santa perspective

April 17, 2012, at 10:57 am by

Dear CIGAs,

You know there is no application process to a Committee of Monetary Wizards to become a reserve currency. It just happens along with the major economic growth of a country. The dollar will be here longer than you and I. It is now a reserve currency only by default, until holders are able to balance their holding which is still dollar biased. Becoming a reserve currency is a process, not an edict. Ceasing to be a reserve currency is a process, not an edict from some Committee of Monetary Wizards.

Anyone that thinks the dollar is not in the process of cessation as a reserve currency by choice is a world class moron or an economic flag waver.

Love, Santa

Yooper Rick NW VIEW
Apr 17, 2012 - 6:45pm

NW View

The perception that will change and drive the PMs higher will be the perception of fiat currencies. People will find the value of PMs fast enough when everything else is knocked down and they are the last man standing.

Apr 17, 2012 - 6:47pm

To whom does the trillions of debt really belong?

From Chris Martenson's article:

"Study hard, go to college, maybe graduate school. And when you get out, not only will you be indebted to your education loans and your mortgage, but you'll be asked to help pay back trillions and trillions of debt to cover the decisions of those who came before you."

I think we should take a serious look one question: To whom does the trillions of debt really belong? There are trillions and trillions of debt beyond what you, me, Billy Bob, everyone else, and all of our relatives, both old and long since passed, owe to the banks for all the cars, homes, college edumacation, and all those other things we borrowed money to acquire that do not belong to us. It primarily belongs to governments, banks, and other financial institutions, by way of their agents. However, the people of the world have not incurred all of the global economy's debts. Debt is systemic, the economic system has been designed, and modified over the years, to do exactly what we see it doing. What we are also seeing is a long history of wealth extraction from the many to the few, again by design. Money out of thin air, fractional reserve banking, with usury being the cherry on top... the whole system should be classified as fraudulent. For instance, the dollar has lost 97% of its purchasing power since 1913 (the FED was unconstitutionally given the power to coin (print/digitize) money and the 16th Amendment was passed, which I would argue is technically unconstitutional because it is legalized theft of one's labor [read slave labor] and allowed the direct taxation of income).

The much bigger problem, despite the fact that the people did not incur the "trillions and trillions of debt," governments will force us to "repay" the debts through austerity, cutting services to all of those people who are now dependent on the nanny state, and higher income taxes (further enslavement). Oh man my blood is boiling right now...

Apr 17, 2012 - 7:01pm

gettin' hot in here

Uncle Ted tells it like it is - and that will get you Guantanamo'd these days . . .

Apr 17, 2012 - 7:18pm


will not be repayed in the GREATRESET after the BIGBADABUST.

most will be defaulted on........crediters will take a hosing.

the rest inflated on....another crediter hosing.

even obozo can only tax soo much......and its not much higher than here, really.

after all, there is blood and then there is turnip juice.

I Run Bartertown
Apr 17, 2012 - 7:20pm

Our Overlords

" Ted Nugent has the Secret Service keeping an eye on him"

Haha, one eye on him and one eye on an underage Columbian hooker.

I Do Not Consent to be ruled by these people.

S Roche
Apr 17, 2012 - 7:22pm

Lease Rates

Kitco have got them wrong before*...I suggest you do not trade on Kitco data.

*Last time it happened, (same as now, it appears on their "small" chart but nothing on their ''detailed'' chart), Turd responded to a query and said he couldn't find confirmation of a dip in lease rates, I emailed Kitco and they replied that they appreciated the feedback and had corrected the chart...doesn't help if you traded on it.

Apr 17, 2012 - 7:27pm

So true...

Also from Chris Martenson's article:

"And it's probably no surprise to hear my view that money is what is increasingly out of whack in this story, not the earth's resources."

So true... Man, I really want a house on an acre somewhere up in the foothills near a stream.

Apr 17, 2012 - 7:42pm
Apr 17, 2012 - 7:47pm

@Santa's commentary

Reading through his site today, there are times when he's clear as glass:

"you buy when weekly prices looks like a fishing line. You sell 1/3 when weekly prices looks like a Rhino horn."

And times when I think he's giving us a riddle to solve:

"Take the position of the observer, and you may become it. Try being fictional, if you wish to be real. Judge not that you should not be judged is what I wrote above. We have to love each other, nobody ever said we had to like each other. Some play the part of Bums. Some play the part of Saints. It really does not make any real difference."

Sometimes I think he's brilliant, other times, I'm caught wondering what the heck he's smoking... LOL!

Apr 17, 2012 - 8:06pm


Another cool version of Hey Jude:

Video unavailable

(I'm kind of partial to the guitar here)

Apr 17, 2012 - 8:07pm

Chris Martenson rocks...

Wow, just wow. Chris Martenson rocks. I love his work. I feel like a sophomore in high school whizzing through 2nd grade works sheets when I read his articles. It's straight to the point, easy to follow, extremely succinct.

This part here caught me by surprise though as I had not fully incorporated into my understanding of our current economic situation.

"Unfortunately for those with these skill sets, we have entered a brand new epoch, where, for a variety of inter-related reasons, old-style economic growth is no longer possible. These reasons are partly demographic, partly related to reaching the mathematical limit of growing one's debts faster than one's income (or GDP, in this story), and partly related to the end of cheap (and easy) oil.

It is this last part, the oil story, which has almost entirely eluded the intellectual grasp of our monetary and fiscal masters. I don't blame them, as mastery of the physical sciences is not a requirement of any classical economics departments in any of the universities that churn out our PhD economists."

To add to this, I would recommend to Chris Martenson, and others, to look into major oil discoveries in the US that were deemed a matter of national security and therefore that information was not made public. I would also point to advanced clean energy production and propulsion technologies have been continually suppressed. Check out the guy who ran his Dodge Dakota on water using an HHO generator and energy producing technologies using zero-point energy. This suppression of technologies is also to blame for our current predicament.

Maryann pourty
Apr 17, 2012 - 8:09pm

Cloudy glass yes...

Pourty, I agree! I was trying to figure that comment out as well!

Also, why would the Chinese not want Starbucks? Too capitalistic? Symbol of excess? Not sure what he meant by that either.

I think Santa is wise, I just want to understand what he is talking about sometimes. I did like the q and a section today. Very informative.

By the way Turd, just wanted to say thanks for everything. (and thank you for always being clear )

TheFool pourty
Apr 17, 2012 - 8:26pm

@pourty -- @Santa's commentary

Santa must be on something good then! I know I am. Maybe that's why I'm writing/reading/thinking so much today.

Man, I could really use some Hostess goodness right now..... What!? Really!? Hostess went bankrupt?! Did the EPA shut them down for not cutting back on Twinkies and Ho Hos addicting qualities!!? Grrrrrrrrrrrrr...... Teamsters Union bosses are just mad they all got fat!

Fred Hayek
Apr 17, 2012 - 8:31pm

@Yooper Rick. I disagree.

I think PM's will take off for good before the people realize that fiat currencies are no good. The people will be starting to wonder. It will be the sphincters working in finance who are part of the bankster game who realize that a tipping point has been reached. Those people get their undue recompense from the system and faithfully serve their fraudulent masters. But those people are not unaware of the case for precious metals. And before the people, in general, realize that the jig is up and they need to be in PM's, the rats in finance will jump the ship.

I remember in high school chemistry class doing what I think was called a "titration test". You had a container filled with a certain red acid. You put a drop of another chemical in and noted if anything happened. Drop. Observation. Drop. Observation.

Drop after drop, nothing happened till suddenly, on something like the 37th drop, the whole container of red acid suddenly became clear. Sadly, I think the 37th drop is not going to be Mr. and Mrs. Main Street realizing that Federal Reserve Notes are less useful than Cliff's Notes or an off note played by a junior high school band. The reliable misinformers in the mainstream media will still be braying at Mr. and Mrs. Main Street about barbaric relics and not being able to eat an asset when things take off for good. No, it will be all the mid-level satyrs at Goldman Sachs converting everything to gold, all the hedge fund demon dunces going all in on PM's. That will be that 37th drop.

Those people have some idea what's really going on. They still play the game because that's what they do. But "the people", Mr. and Mrs. Main Street, will NEVER beat those scum to the exits. Never.

robov TF
Apr 17, 2012 - 8:37pm


And what are we to make of this Turd? As the Cartel keeps a cap or drops the price of silver OI continues to rise which on the surface signifies strong resolute longs willing to take these crooks on, but, just that, but. What does it ultimately mean? You have the wicked witch appearing on a MSM CNBC blip to answer some softball lobs, the JPM Voldemort in London, the Reuters spin piece trying to imply Silver supply is plentiful because eligible has increased while neglecting to mention that in fact registered is getting back close to last years record lows. Harvey of course reads this as strong resolute longs causing our banksters fit, but given their track record I am always cautious.

Apr 17, 2012 - 8:40pm

You got the silver

Video unavailable
Apr 17, 2012 - 8:43pm


Video unavailable
Video unavailable
Apr 17, 2012 - 8:47pm

re: Our Overlords

Sounds like you need to become part of Mark Steyn's "Alliance for Non-Compliance." I am and am enjoying every minute of it!

Apr 17, 2012 - 8:51pm

Cartagena Coke Hooker's Sex A La Carte !

Some street smart Colombian coke hookers (the kind that keep hat pins in their hair dews) got the drop on Obama's "Head Start" Secret Service agents ! Compromised for $47 ! Monedas 2012 Comedy Jihad Word Cartoon

Apr 17, 2012 - 8:53pm
Apr 17, 2012 - 9:04pm

'Coming out party' underway in yuan

Barclays, Standard Chartered Back London Bid for Yuan Hub Status

I Run Bartertown
Apr 17, 2012 - 9:06pm


LMAO - "Head Start" Secret do you do it? head start affirmative action jokes and tributes to Anders...yet you still are cuddly...must be the avatar

But you remind me (so I'll just say the Devil Monedas made me do it) that our ever-increasingly efficient, law-abiding, and competent Federal .gov might miss a goal here or there, but here's a shining example of their success, blasting through their own ambitious goals:

% Overhiring of Blacks in All 22 Independent Federal Agencies

According to OPM's FY 2006 report, all 23 independent federal agencies exceeded their racial quotas for hiring blacks by dozens or even hundreds of percent.

This year the First Place prize in the federal quota competition again goes to Court Services and Offender Services (CSOS) for employing 808% more blacks than their affirmative action target (quota).

Progress by any fair minded measure, right?

Apr 17, 2012 - 9:29pm


How big is that fence around your place?

Apr 17, 2012 - 9:34pm
Apr 17, 2012 - 9:37pm

57 Goldtop

My first decent guitar was an LP Deluxe Goldtop -- not a 57 of course, circa 78. Never really got it into so I traded it in for a 74 Gibson L5S Cherryburst. Best trade I ever made after trading FRNs for a some real gold! Despite starting with Gibsons and having 3 of them, I'm actually now more of a Strat guy. Go figure....

paulindoon Tyler
Apr 17, 2012 - 9:45pm
Chris P. Bacon
Apr 17, 2012 - 9:45pm


Am I the only one who can't play the Martenson interview? It's always possible the problem is on my end, but this is the first one I can neither play via the embedded player, nor download.




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