Constitutional Deception

Thu, Jun 28, 2012 - 11:50am

Article 1. Section 7. Congress shall make any law it pleases, regardless of whether the citizens were lied to, deceived or otherwise misled into supporting its passage.

George and Obama debate health care taxes

The metals are, of course, up against it this morning. If you haven't yet read this ( or this (, please do so immediately. It is looking increasingly likely that the triple bottom in silver will soon fail. IF stops below 26.25 are tripped (maybe on The Globex this afternoon), silver may rapidly descend toward 25 and then continue, over the next couple of weeks, down toward 22 in a final washout move. Please be prepared for this and do not panic if it happens.

Gold is still in its 1530-1630 range but it is, of course, subject to a breakdown, too. Be vigilant.

Hang in there and don't be surprised by anything.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jun 28, 2012 - 11:53am


Orange you glad I didn't say second?

Jun 28, 2012 - 11:57am


whoho Don't you love all of the things we saw here first getting full coverage now

9 billion JPM

New Chinese SWIFT

Zero gold risk as colateral

Large manipulation of the market > the litro bust

and on and on

Soon our day will gome and we shall all be rich beyond our dreams

Jun 28, 2012 - 11:57am


oh yea. good times. good times. i'm gonna go eat an apple. i hope there is never a tax on those who post first

Jun 28, 2012 - 11:57am

I am liking

hearing the TTM podcasts...thanks again!

Jun 28, 2012 - 11:57am

It could be worse?

Well it could, but this is pretty bad I think.

Any guesses on the contempt vote later today? (I'm guessing yes)

Jun 28, 2012 - 11:58am

Pirate's Code

I guess the Constitution is nothing more than a "guideline" though I recall something about it being the Supreme Law of the Land. What happened!! The Commerce Clause has been taken severely downhill since Wickard v. Filburn

Jun 28, 2012 - 12:00pm

Hate to be the "spelling police" TF but...

...shouldn't it be mandatory? Never mind...just realized it was the author of the video. mea culpa, mea culpa:)

Oh yeah, 8th:)

Jun 28, 2012 - 12:01pm

And if you're not depressed enough...

...try these on for size, too:

Video unavailable
Video unavailable
Jun 28, 2012 - 12:02pm


I hate spelling errors and I looked for other videos but that one was the best.

"manditory" - what an idiot.

Jun 28, 2012 - 12:04pm
Darth Smoker
Jun 28, 2012 - 12:04pm
Jun 28, 2012 - 12:05pm

PM reality today and over the past year

Thanks for the update TF.


"Face reality. Turd, Sinclair, Turk and all the others have been wrong for a LONG time now."

I'll agree they have been way off for about a year on specific calls but to say they have been wrong for a LONG time implies they weren't right for the past 8-9 years also? That's a blanket statement and incorrect. Do they get credit for any of those other years where they went against the grain of everyone else?

All those industry folks made many of those assertions under what used to be 'normal' market conditions. As you can see, we no longer have a normal or fair market because it is steered by many other factors other then fundamentals that used to matter for the most part. The news is the driving fundamental right now. That's a messed up thing and NO ONE could've expected or predicted how the de-coupling from previous metrics that used to show trends has been obliterated to the extent that up is down and the exact opposite might be true later in the day or the next trading day. There is no rhyme or reason any longer.

I do not think gold is going under $1,000 anytime soon. Do you? If so, then get out of the market ASAP as that would be the logical move if you feel the bull market is over and gold/silver are to go much lower. I don't think so and I'm not claiming to be right. I don't see $1,000 gold anytime soon. I would however be interested in your take on how that might happen.

I'm not blasting you or challenging you on this. I feel for anyone who is at the point in their evolution of thinking on this if you're still stuck in the day to day action of the metals and not the long term window. Yes, lately the metals have sucked and the trends and short term reactions blow. Holding paper right now probably isn't a good feeling. Many of us know first hand how unpleasant that can be. Trust me on that. Live and learn and move on and don't hang on the day to day in a historic marketplace convulsion. It's not an easy thing to do. You must trust what your gut told you when things were going good and bullish and what it's saying now.

Look further down the road and try not to take a daily inventory how much your stack is down or more importantly to many, how your stack is not going up like you/we hoped compared to the somewhat parabolic rate it was in the past few years previous to this past year.

We have time on our side and the guaranteed impotence and irrational greedy decision making at the top of our leaderships that assures you that they will not or can not fix this historic apex of debt we find ourselves in. That's nothing to hope for but seems to be how this is proceeding.

Were at a point where some former bulls will drop out of the bull fight because of the historic circumstances and forces at play. I don't even know how I'll be in 1 -5 years from now if something extraordinary occurs in the global marketplace that just challenges your beliefs and inner fortitude. I suspect I'll just become more resolute.

Were at the point in the metals markets that will lead to each individuals meddle being severely tested. I'm hanging in there and I could care less about the day to day movements although I watch them and I don't expect much.

What I do expect is that one day during this messed up and stagnant market phase is that I'll log on here or turn the TV on and I'll see some massive reaction at some point seemingly out of the blue that has gold over $100 and silver over $5 in one giant spike that indicates something profound has changed.

That'll be the day we hit 1,0o0 posts on here in short order and cheer the whole thing on with mouths agape.

Jun 28, 2012 - 12:05pm

Smack it to stack it

Just DCA'd in 210 oz. of Ag bars. Feels good to get a price under $30. Didn't think we'd see these prices again in April 2011. My silver pile hasn't shrunk one bit since the manipulators decided to take some shine off the PMS so as not to attract the populace. Price does not equal ounces. Ounces in possession is all that will matter. Luckily, my work is still busy and I can make enough fiat to pay the bills--the rest goes to dinners with the wife, occasional ballgame, and buying the dips. Thanks for the cover, SCOTUS.

Jun 28, 2012 - 12:06pm

It is now the ObamaTax....

no longer is it ObamaCare. The SC just did us a favor, and called the Act what it really is.....a tax. Do we remember what happened in the 2010 elections? That was a prelude to what we will see in the upcoming months.

Dr G
Jun 28, 2012 - 12:06pm

I'm miserable because I can't

I'm miserable because I can't afford to buy my way into another country.

Jun 28, 2012 - 12:06pm


This country continues to disgust me more and more each day, we have literally gone from being the greatest country in the world to what will soon be one of the shittest all due to personal interest and greed. Anyone who has a vast sum of wealth in this country, I would recommend moving to Panama before the end of the year. They have the balboa and the USD there so if the USD collapses they will just ditch it. Due to the panamanian canal they have US standards for hospitals and education. No property taxes for 20 years on new properties. Extremely cheap labor since they are moving from 3rd to 1st world. Sounds pretty good to me, i'll come back to the USA when all the bullshit stops. Untill then, I think I am gonna head abroad. We will soon go from the USA to the USSA and that is not okay with me. Keep on hoping that jobs will recover, it ain't gonna happen now that this bill has been passed. Oh and included in the bill, an report to the IRS for any sale or buy of PM's over $600 so watch your sad....

Jun 28, 2012 - 12:07pm

Turd, the other day you said,

Turd, the other day you said, "What I do know is that it is headed multiples higher when the world finally reverts back to some type of gold-backed, international trade settlement system". This gave me pause. I think many would argue and rightly so that there is simply no way to predict that the world will ever revert back to a "gold-backed, international trade settlement system". Is this the assumption that drives your thesis that gold and silver will be "multiples higher"? Is this the same assumption that leads you to believe it is going to be a explosive summer for the metals? If this assumption is the foundation for your argument, I think there is a very strong chance your analysis is flawed. There are many competent economic minds out there that strongly believe this day of a proposed gold back settlement system will absolutely never happen. I have no idea if it will or it won't, but if the underpinnings of your message is that it definitely will happen and it will be the catalyst for rampant increases in the PM prices, I think you are being somewhat careless. Many here (rightly or wrongly) take your conviction in the PMs as a big source of their confidence to invest their money into gold and silver, but I have to imagine you can perceive a future where your basic assumption fails to materialize. Certainly, it doesn't appear that this new settlement system will happen anytime soon (if ever), so what gives you the confidence that the PMs will be explosive this summer. Certainly, this seems an odd belief given that you now see silver very possibly trading down into the low 20s, although it was not long ago that you ended a post with "silver is not going to 20, period!". I don't care about the accuracy of your short term predictions, it is obvious no one has a clue as to the short term movement of the metals, but I am more concerned with your longer term thesis. It seems you are treating a potential as an absolute.

Jun 28, 2012 - 12:07pm
Sneed Hearn
Jun 28, 2012 - 12:07pm

Lawless country

There is no longer anything pretending to be the "law of the land;" there is only brute force. The despicable political class and its appointed scum simply do what they want and pretend they even know what the constitution says. Tis long past time for nullification and secession to have their place in the sun.

R.I.P. United States of America. The founders knew we would only have a true constitutional republic for as long as we could keep it alive and the final shovel of dirt just went on the coffin. It is not possible to ignore the force but the "laws" are just paper, another version of fiat currency. There is nothing immoral about disregarding paper law - but it will be unpleasant to be caught doing so. Caveat emptor.

Dr G
Jun 28, 2012 - 12:08pm

@IS7, $1000 gold isn't

@IS7, $1000 gold isn't happening.

Jun 28, 2012 - 12:08pm

inverted h+s?

Looking at the daily silver I can see what could become an inverted head and shoulders pattern which if formed would be a bullish indicator.

Jun 28, 2012 - 12:08pm

What we can do locally...

3 workable ideas that help society thrive: - Group decision making ("voting"). When a politician promises something, ask, "Or else what, SPECIFICALLY?" What do they have at stake if they don't make good on their promise? This changes the power dynamics from fiat win-lose, to equal contract. And once selected, if an "organizer" makes a mistake, the people who voted for them help make amends. - Be your own bank: store wealth in hard assets. Others have power over us because we let them control the money supply. - Keep insisting that "taxes" are spent locally, up to 1 level away, and are all collected locally by a single point of sales tax. Details:

Jun 28, 2012 - 12:11pm

Beware of an economic accident.

My family was driving home from a vacation the other day when we came upon a wreck on the interstate. Both sides were closed for over 4 hours. We actually never saw the wreck, but as I sat there, and upon further reflection, I sensed we were experiencing a systemic flaw in the way our country (the US) is structured—a microcosm of what will happen when the banking system has its “wreck.”

First, nobody knew what was going on. Traffic was just stopped. We drove past one of those driveways that crosses between the east/westbound lanes for emergency vehicles. We could have crossed over and taken evasive action. We ignorantly rolled right past our escape. We had the means to discover with our cell phones, but none of us thought to research it for over an hour. How many people could be learning and prepping now and are ignorantly passing up their opportunity.

Things got worse from there. A wreck on the off ramp of the next exit where they were diverting traffic brought us to a standstill. Now we really were stuck. Nobody was ready for anything but normal operation of the highway system. We were hungry. Everyone needed a bathroom. No movement for an hour. We were frustrated and helpless.

The efficiency of our highway system can be utterly clogged with a single accident. The system is not designed to accommodate wrecks AND keep traffic flowing. I suspect our banking system and economy is equally as precarious and delicate.

Jun 28, 2012 - 12:11pm

Come Off The Ledge, Please, It is NOT That Bad

The SCOTUS decision is at once both severely depressing from a conservative point of view, and also inspirational and satisfying from a progressive point of view. Each side can take victory laps. Personally, I feel extremely upset that once again, the federal government seemingly imposes its will upon the masses, in disregard for individual freedom. I take this very personally, and am still beside myself over what effect this will have going forward, politically, personally, etc. However, legally, there is a viewpoint that needs to be stated, now, so that some measure of relief and joy can be found. There are MAJOR defeats for both sides. Let’s call this fairly, without histrionics. Obamacare is unfair from an emotional point of view. I feel that personally. How can the USA, impose a penalty upon someone who elects NOT to participate? How is this freedom? The answer, is it is NOT freedom. The Fed govt can, and will, and has just shown that it does, TAX people to pay for its programs. The answer to those that dislike the TAX of Obamacare, is to elect those who will repeal the tax. Simply that. Otherwise, the choice is to pay the tax, or to pay for health insurance. There is no escape, for the moment. However, for those that have been watching the Supreme Court defy the Constitution since FDR’s era, the long swinging pendulum of federal power under the commerce clause has FINALLY reached its zenith. For this, I REJOICE HEARTILY. Congress no longer has unfettered power to do what they want under the guise of the commerce clause [and dormant commerce clause for that matter]. The other tried-and-true knee-jerk “justification” for other power grabs, the “necessary and proper” clause, has also reached its zenith, too. Justice Roberts will go down as the ONE who finally stopped the swing of the pendulum. For that, he is a constitutional hero, and I applaud him. Finally, we have reached a limit on what the congress can do under the commerce clause. So, how does this play out, though, in Roberts’ joining of the liberals in upholding Obamacare under the taxing power of the fed govt? Justice Roberts, to his great discredit in conservative pundit-land, is a sell out, one of them, a traitor to the cause. However, he did properly read the law, and has properly applied the constitution to the issue of the fed govt forcing individuals to pay a tax to fund a social cause. The fed govt has the power to tax, just like the state governments. The constitutional remedy, if you will, is NOT for the judiciary to say the tax is illegal because of this or that. It is a legislative decision, based on the constitution, that allows for the fed govt to tax people. It IS okay under the constitution, so we all need to get over it from a CONSTITUTIONAL stand point. The constitutional remedy, like always, over these tax issues, is already spelled out nicely in the constitution. It is the VOTE. Elections have consequences. If those in congress who voted to enact this onerous tax do not repeal the onerous tax, then OUR remedy, as USA citizens, is to vote for a different congressperson, who will hopefully vote to repeal Obamacare. That is that. Now, back to my other fun legal work.

Jun 28, 2012 - 12:13pm

Medical care in America

OK, you've heard it all before but it seems that people only hear/see that which they already believe. THE CANADIAN HEALTHCARE SYSTEM WORKS..... YOURS DOESN'T! Was that loud enough?

My wife and I have received medical care in both the US and Canada. We purchase travel insurance while visiting in the US (which we do often), so that we can respond to any medical emergency without concern for our financial well-being. Obviously, we also use the Canadian healthcare system for all other regular and emergency needs. Both systems are staffed by highly trained and qualified professionals. Both systems are well equipped. The US system has quicker access to both specialists and their specialized tools however, it is prohibitively expensive and we would not dare travel in the US without additional insurance. The travel health insurance is also prohibitively expensive but is the only viable alternative to being driven to the poor house should we have a medical emergency requiring extensive care.

That the US spends more on medical care than any other country is well documented. This amazing statistic leaves people in Canada and the UK dumbfounded. How can this be when so many people are not eligible (in the real sense) to access the healthcare system due to prohibitive costs in the USA? I don't care which health care insurance company you choose (we've investigated most travel health plans), they're all horribly expensive. If you have a job and are covered by an employer's plan, bully for you. What happens if your fired or laid off? And do you know what caused employers to contribute to a healthplan for its employees in the first place? Guess? It wasn't competition to acquire the best personnel (although it sometimes helped). No, it was the united voice of workers at that time that FORCED changes in the workplace that made it possible to have a employees benefit plan, including healthcare.

Things have changed from those days when the labour movement was strong. Unions have purportedly become corrupt and inept. Some businesses have failed or moved out the country because of (purportedly) the high cost of labour and materials in the US (or the classic comment, "no one wants to do that kind of work today in America", a statement that I believe is totally false and ridiculous despite the fact that those who believe it can always come up with some example somewhere of somebody's brotherinlaw or cousin who sits on his ass all day and waits for a government check. Sure there's always guys like that but it's not the average American I know. During this transitional time however, the wealth of the US has grown immensely - documented. More money for military - documented, more for social programs, more for healthcare - documented, documented, and so on. And yet, there are those in America that are dying today (or will die), because they lost their jobs and can not afford to get the medical care they need that could prolong or enhance their (or a member of the family's) lives for decades. How can that be? More wealthy, better educated, better healthcare facilities and personnel.... tough, no insurance - Suffer/die. Meanwhile, some sociopath from Wall Street thinks everything is just great and could give a damn less how badly the system serves anyone else but but how well it serves he and his ilk.

It just doesn't make sense!!! Where is the money going that is represented by these huge figures applied to the healthcare system? I'm not sure, but I think I know. I watch DTV, all american TV, and I may be exagerating slightly, but ever 2nd to 3rd commercial is from an insurance company of one kind or another. Progressive, Traders, Farmers, Geico, I could fill a paragraph with their names and the jingles ("Nationwide is on your side") and images just flood my mind as I type their names. How much money do these guys make in order to profit from such an immense expenditure. Now granted, not all of these offer healthcare but some of them do and I'm fairly sure that those that do offer health coverage aren't going to profit less than those offering car insurance. This is mega business and profiteering on a huge scale. Bottom line.... the most expensive medical system in the world is expensive not because of the care it provides its citizenry but because of the profits made by the very people on Wall Street who are able to take full advantage of both the profits and the facilities afforded them.

I want you to know that I love the USA. It is a great, wonderful and beautiful country.... and its people are beautiful. Outgoing, expressive, many full of character and charm and it drives me crazy when I see/hear the attitude of so many Americans toward socialized medicine. it just doesn't seem to fit with the America I know..... or maybe, I'm only hearing/seeing that which I already believe.

ClinkinKY TF
Jun 28, 2012 - 12:15pm

@ TF-No prob, we're on the same page...

...I posted same video on last thread, apparently after author caught his mistake and changed title:)

B.O. Denies That It Is A Tax

Jun 28, 2012 - 12:16pm

Let's see

I'll try to take these one by one.

  1. I believe that a gold-backed, international trade settlement system is coming. This is one of the events that will drive gold (and silver) multiples higher. I've clearly stated this this change could come soon and it could come later. It is, however, most definitely coming. Again, IMHO.
  2. This is NOT the reason I am expecting an "explosive" summer. I am expecting some newly materializing fundamentals to drive prices higher.
  3. I only posit $22 silver as a possibility. Several people I know, with much greater knowledge, wisdom and experience than I, feel that the physical demand fundamentals WILL NOT allow this to happen.
  4. IF a stop-clearing-induced drop below $25 develops, it will be brief.
  5. This blog is about my beliefs. When I started 18 months ago, I was advised by a longtime Turdite that I should never mince words and hide behind subtlety. I haven't and I won't. I tell you what I think and then I live with it. It is up to reader to decide whether or not my points are valid and worthy of consideration.
Jun 28, 2012 - 12:19pm

Condolences from Canada

Damn! Being a Canadian looks better today than it did yesterday. I am shocked that this O-Care decision went this way. The ramifications for the economy and freedoms is dizzying.

At least up here, it's common knowledge that we are simply Nanny-State numbers - I truly didn't expect the US to fall in this trap at the end of the day. Welcome to the world of big-brother dictating your lives.

Be Prepared
Jun 28, 2012 - 12:19pm

There is no "First" today.... just Fists of Rage...

This action won't be the last and it hasn't been the first, but it is the "bell" note that rings an ever clear sound that we matter little and, for all that we are awake, we are and will be treated as sheep. It doesn't matter what label we put on it.... what "ism" that people do or don't feel comfortable with, but, today, we have been shown there aren't any real checks and balances left in the American system of Government.

What's sad... is that many people are celebrating this decision as a victory, but that too is inevitable. People will cheer, as well, when the stormtroopers march down the street.... it still doesn't make it right. We have asked to be taken care of... We have been bought by our Government using our own money...and We will be oppressed in increments in just such a way as to not bring too much pain or notice. Most of us may never even feel the chains of bondage as the bite of steel cuffs will become a reassuring presence of our Master's care.

It's difficult to see how the dominoes are falling into the alignment that I have fought to keep at bay, but, alas, they have and continue to artfully spin and dance the placement of our demise in shadow and in light. I know not when the last shall fall or if it ever will, but I am saddened deeply to know that much has been done that will be impossible to be undone. These statement, though, are not capitulation, but will build within me a new vigor to press on.... to staunchly persevere.....for another day will dawn and I can still hope it is unwritten.

Jun 28, 2012 - 12:20pm

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