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 ()


Dagney Taggart
Jun 28, 2012 - 1:40pm

Nation of Liars and Thieves

The US will receive Judgment whether any of us like it or not.

Edit: May it start in the foreign corporation known as Washington DC

Bongo Jim
Jun 28, 2012 - 1:42pm


Yes Hun, luck is needed. First, you have to vociferously proclaim the reservation of your rights on everything you sign. Second the judge has to acknowledge that you've done this. Third you have to make sure the judge knows that you know what UCC 1-308 means. Forth, if the judge has actually let it go this far, the judge agrees with you, he doesn't have to agree. So good luck.

Jun 28, 2012 - 1:43pm


It does not matter even if obama care was completly overturned, Roberts gave presidence now to taxation.....that will be the long term problem with todays vote

Jun 28, 2012 - 1:43pm

Obamacare: Over the Top Hysterics

Obamacare does not signal the end of our Freedom and some some major Consitutional crisis. Take a breath and stop the hysterics. You know what was worse? Cheney and Bush starting an unnecessary war in Iraq and Cheney's treasonous act of uncovering Valerie Plame's identity (to name just two horrific acts). I doubt Obama intended his health care plan as a tax--just because one Supreme Court Justice labeled it as such (much to the surprise of everyone) does not make Obama a liar.

Beastly Stack
Jun 28, 2012 - 1:48pm

Last Year Friday July 1st

Gold got smashed below 1500$ and closed pretty close to the lows around 1488-.I Bought that day and closed my positions bc it was such an ugly close.Starting that Monday we launched over $400 during the following 6 weeks.This seems eerily similar.

Don't let the crooks scare you!We all have to exercise with caution and Turd really is trying his best from past experiences.Just when you think you got this figured out they jam it the other way.DON"T get fleeced.If stack'n god bless and turn the screen off,especially the tv with the idiots that just spew BS.

Patience is a virtue.

Great Job TF

Ned BradenLifeIsPain
Jun 28, 2012 - 1:48pm

Here we go


Jun 28, 2012 - 1:50pm

@ LifeIsPain

Actually it was argued before SCOTUS as a tax, and thus the ruling reflects such.

I completely agree with everything else, obama is simply perpetuating bush's bs policies. bush also had the CoG reworked, and that has never seen the light of day. cheney...rove...rumsfield...

obama could have stopped the wars, but instead he started more. he could have stopped the financial shenanigans, but instead he started more.

Jun 28, 2012 - 1:50pm


The problem is the insurance created friction.

The whole system is dysfunctional.

In the last year I had to get the insurance company to code my kids broken arm as and accident, not "elective medical procedure."

They will pay for me to have my skin examined for cancerous moles, however, if they need biopsy, this is not covered as this is elective surgery. ok. I have not found any insurance which is different.

It is f'd up.

I have told them that they can pay for the $2 or 3 million brain cancer when the mole they didn't want tested metastasizes. Surely, not worth testing that stuff.

All this for 10 grand a year. I have changed insurance companies so many times it is a joke. I have NEVER had any expensive procedures. My birthing 50 years ago cost $150. I had one mole taken off in outpatient procedure that was melanoma...cost about $800.

It just makes you sick. This Obamacare is just a gigantic legal platitude, giving the masses the feel of help when really they are just getting screwed. Kinda like all those charts showing low unemployment if they rammed through the bank bailout. Hows that 50 million on food stamps treating you? Fear not, Jamie Dimon is brilliant.

Jun 28, 2012 - 1:51pm

Dead play metals

I don't know what these people are looking at - when I look at my PM balance sheet - I'm still up 250% on a buy and hold strategy. In 2010, AG was up 89%, 2009 48%. AG got ahead of itself in 2011 and was up almost another 100% before the smack down. But if you bought Jan 1, 2010 - you're still up huge.

One thing I started doing years ago is comparing a Buy and Hold strategy between the DOW and AG. Right now, at these lows, if you bought AG on the first of the year, you beat out someone buying the DOW for every year since 1990 except 2011 and 2012. (not counting dividends or bankrupt companies) That's 20 out of the past 22 years.

These things go in cycles - the PM cycle is not over. Real interest rates are still negative. There hasn't been a stock market final capitulation. The crooks are doing all they can to steel your buying power. The bond market is in a massive 30+ year bubble. There has been no DOW/AU cross - or even close. PMs are still undervalued.

If you need the money - do what you need to do to sleep at night. If not - just relax. When true price discovery comes - do you want to be in the stock market or in PMs? If you don't want to be in PMs, then leave - you don't need to "advise" me to save me from myself. I'm doing just fine without you.

Thanks Turd. Don't hold back - just call it like you see it.

Jun 28, 2012 - 1:52pm

Re: Gold as Tier 1 asset

Just my 2 ct.

The importance of this classification would be in the case of liquidity problems for banks.

Banks need a certain amount of tier 1 capital. I.e. if bonds fall (say Spanish or Italian, or in one or two years UK or US bonds...), the core capital shirnks, and the bank needs to fill the gap. So they sell assets that are not tier 1 to get tier 1 up. If Gold would be classified tier 1, then there would be less reason to sell it to raise tier 1 because it already is tier 1.

On the other hand, if banks would hold big amounts of gold, a price drop in gold would reduce their core capital and they would be forced to sell other assets - but again, not gold.

But why are they doing this now? I can find only one answer: if they raise the status of the asset, they have been hating most, then they are preparing for a future, where this asset will no longer be hated most. This step would make perfect sense, if they want to be prepared for a gold-backed money-regime.

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