Disinformation & Deceit

Things are getting curiouser and curiouser...

By now, I would imagine that nearly everyone has seen this: (http://www.zerohedge.com/news/libor-may-be-manipulated-silver-not-cftc-conclude). I was sitting here in the TurdCave yesterday afternoon when I saw the original FT story cross the wires. Note the time stamp was exactly 5:00 pm EDT (NY time). Hmmmm. Isn't that interesting? On the next link, you can see that pre-open, electronic trading begins at exactly 5:00 pm NY time, as well. (http://www.cmegroup.com/trading_hours/). Again, hmmmm. I'm sure that's just a coincidence.

Then, when ZH picked up the story, word quickly spread. What was going on here? Who are the "three sources" who divulged this information? Well, our friend The Doc got right on it and quickly found out that it wasn't Bart Chilton (http://www.silverdoctors.com/bart-chilton-ft-report-that-cftc-to-drop-silver-investigation-is-inaccurate-premature-there-have-been-devious-efforts-to-move-price-of-silver/) and several other, industrious Turdites reported receiving similar responses to their inquiries.

So, what are we to make of all this? It would seem that we are left with these possibilities:

  1. The story is true and accurate and the CFTC silver investigation will soon close with nothing done.
  2. The story is inaccurate and is simply shoddy reporting by the crew at the Financial Times.
  3. The story is inaccurate and was deliberately placed in order to influence a certain outcome. Rationale for this ranges from: a) An attempt to initiate another Sunday Night Massacre, b) An attempt to draw in additional SpecShortSheep in advance of lower margins today, c) An attempt to influence the CFTC to conclude the investigation ahead of "schedule" in September, d) An attempt to influence the civil court into dismissing the class action suits against JPM, e) anything else you can think of.

I look forward to reading what everyone thinks and am open to other ideas/theories.

So far, the report has had little impact on price as both metals are currently UP basis the close on Friday. Imagine that!...Gold UP on two, consecutive days. That must be some kind of record. Regardless, the charts are looking increasingly positive and strongly suggest that The Bottoms are in and that a breakout beginning of a new trend is imminent. Be right, sit tight and you will be rewarded.

OK, I'm going to stop there for now because it's already 11:00 EDT and I need to get this posted. Please stay strong. We are entering a critical phase and now is not the time for weak knees. We are all on the right side of history and vindication will soon be ours. More later today or this evening.

TF

187 Comments

Hrunner's picture

Mr Obama, You Owe Us

From Wayne Allyn Root

"President Obama has it completely backward. Business owners don’t owe credit to government for their success. Government owes us credit for its existence. Government doesn’t enable or empower business owners. We empower government.

Business owners would do just fine without government. But government, government employees and the “takers” of society (those who take checks from government) could not survive without us: the creators, producers and taxpayers. Simply put, we pay all the bills for government. We’re the ones you ought to be thanking.

Let me paint a picture even an economic illiterate can understand. Let’s say you own a restaurant. Who needs whom? Do the patrons of your restaurant need you? No, they could choose any one of 1,000 other restaurants in your city. They could stay home and cook for themselves. Heck, they could even choose to not eat; most Americans could use a day off from eating.

But you — the business owner — could not live without customers. You desperately need their patronage. You need to be nice, genuflect and show gratitude. Without customers, you could not stay in business. Every employee of your restaurant is dependent on customers. Even ignorant leftists and socialists can’t intelligently argue with that.

Now let’s extend that “business model” to government. Government is the business. The taxpayers are the customers — just like that restaurant example. Government doesn’t survive if we don’t pay the bills. Government is dependent on us, our hard work, our taxes. If we go on strike and stop paying, government goes out of business.

The only difference is that in a free market capitalist society, the customer freely chooses to spend his or her money at the business of their choice. But in the case of government, the customer is limited to only one choice. If government can’t pay the bills, instead of being forced out of business, government just raises taxes and extorts more money (legally, of course).

So why does Obama think we owe him? Sure, we need the things that help our society and economy grow: infrastructure (i.e., roads, bridges, traffic lights, police, fire, garbage, sewers, hospitals, airports, schools) and national defense. Although, much of that could be handled by private enterprise. But Obama misses the crucial point: We (business owners and taxpayers) paid for that with our taxes. We built it! You owe us a debt of gratitude.

Without our business taxes, Social Security taxes, payroll taxes, workers’ compensation taxes, sales taxes, property taxes, income taxes and estate taxes (we even pay you after we’re dead), there would be no money for all those things that Obama values. Why would we thank you for things we paid for? When the customer walks out of the restaurant, or hardware store, or toy store, who thanks whom? The business owner thanks us for spending our money in his establishment.

Instead of telling us how much we owe government, the progressive leftists and socialists should be thanking us. Without taxpayers (especially high-income business owners), you wouldn’t be able to build roads, bridges, highways, schools or airports. Your infrastructure exists because of our hard work. Your schools exist because of rich business owners who pay huge property tax bills. Your Social Security, Medicare, welfare, food stamps and unemployment insurance exist because of business owners paying into the system.

Yes, President Obama, it all exists because business owners do, in fact, work harder and smarter. And you had better thank God we do it, or you’d be up the proverbial creek without a paddle. We’re not dependent on government. Mr. Obama, every government program, every government employee and every handout addict depend on us. If we don’t write the checks, you don’t get paid. Or do you think money grows on trees?"

http://personalliberty.com/2012/08/02/message-to-obama-you-owe-us/

Short Stack's picture

@Hrunner

Excellent rant, well worded.   In fact, if I were you I'd make a hard copy and mail it to the White House - just don't put your real name on it or you might get one of thosed midnight visits from the Men In Black.

Puck T. Smith's picture

Re: Mr Obama, You Owe Us

I pretty much despise W.A.R. as a neo-con L.I.N.O, but goodness gracious sake's alive, he hit that one all the way out of the park and into the next county.

ClinkinKY's picture

@ Hrunner---Another article from same author FWIW

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Campaign Committee.

----------------------------------------------

But don’t take my word for it. The Wall Street Journal reported in 2008 that Fox News randomly called 400 of our Columbia classmates and never found one who had ever met Obama.

-----------------------------------------------

I am President Obama’s classmate at Columbia University, Class of ’83. I am also one of the most accurate Las Vegas oddsmakers and prognosticators. Accurate enough that I was awarded my own star on the Las Vegas Walk of Stars. And I smell something rotten in Denmark. Obama has a big skeleton in his closet. It’s his college records. Call it “gut instinct” but my gut is almost always right. Obama has a secret hidden at Columbia- and it’s a bad one that threatens to bring down his presidency. Gut instinct is how I’ve made my living for 29 years since graduating Columbia.

Obama and his infamous strategist David Axelrod understand how to play political hardball, the best it’s ever been played. Team Obama has decided to distract America’s voters by condemning Mitt Romney for not releasing enough years of his tax returns. It’s the perfect cover. Obama knows the best defense is a bold offense. Just keep attacking Mitt and blaming him for secrecy and evasion, while accusing him of having a scandal that doesn’t exist. Then ask followers like Senator Harry Reid to chase the lead. The U.S. Senate Majority Leader appears to now be making up stories out of thin air, about tax returns he knows nothing about. It’s a cynical, brilliant, and vicious strategy. Make Romney defend, so he can’t attack the real Obama scandal.

Read more:http://www.theblaze.com/contributions/obama%E2%80%99s-college-classmate-the-obama-scandal-is-at-columbia/

ClinkinKY's picture

Duh! Story of the Day

A new report from the conservative Government Accountability Institute (GAI) finds that President Barack Obama’s and Attorney General Eric Holder’s failure to criminally charge any top Wall Street bankers is likely a result of cronyism inside the Department of Justice and political donations made to Obama’s campaign.

Despite Obama’s and Holder’s “heated rhetoric” against Wall Street (in 2009, Obama blamed the 2008 financial collapse on “reckless speculation of bankers” while Holder charged that “unscrupulous executives, Ponzi scheme operators and common criminals alike have targeted the pocketbooks and retirement accounts of middle class Americans”), they haven’t “filed a single criminal charge against any top executive of an elite financial institution,” GAI wrote in its report, exclusively obtained by The Daily Caller.

Short Stack's picture

Gold just took a mini dive at 4: 15 (approx)

Also silver a 4 pm.   I suspect it's just investors glad to take a profit and fearing someone would beat them to it.

Peoples Front of Judea's picture

Personal Pensions

I wonder if you most knowledgeable of turdites can help me?smiley

I have been looking at my pension which has about £42,000  invested

i have discovered that i can invest it  in metals  if i so wish

is this wise, and if so what would be the best investments

i think i have to do this because it is producing crapola......only producing £7,000  improvements in 24 years

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