Low E

Fri, Jan 4, 2013 - 11:42am

As a middle-aged American male, I'm told by my television that I should be concerned about "Low T"...Big Pharma slang for low testosterone. So far, so good on that one (as MrsF will attest ). A much bigger problem right now is "Low E"...Turd slang for low enthusiasm.

Maybe tomorrow I'll write a post that discusses the MOPE and crap of yesterday. That The Fed can/will end QE as soon as later this year is so nonsensical that it doesn't deserve logical refutation.

Maybe tomorrow I'll write a post that discusses the latest BLSBS, replete with buried statistics and mentions of participation rates and seasonal adjustments.

Maybe tomorrow I'll write a post that includes a bunch of charts with lines drawn all over them, showing where price might stop and reverse.

For now, I only want to write about the one thing that bothered me the entire time I was on vacation...the CFTC.

You see, here's the problem: I'd like to have hope. I see things. I talk to people. I read a lot. And I think. All of this leads me to the conclusions I espouse here. Namely, that the end of The Great Keynesian Experiment is upon us and we all need to prepare accordingly. The politicians are all corrupt. The U.S., and the world for that matter, is ruled in favor of the very few, particularly the international bankers. The global economic system is about to collapse and morph into something completely different from what we've all known our entire lifetimes.

But, I'd like to have hope. Hope that I'm wrong. Hope that I simply have an overactive imagination. Hope that I am just channeling Russell Crowe playing John Nash, seeing clearly nothing but make-believe conspiracies and foolishly connecting the dots.

But the problem is...the CFTC. There the illusion and hope unravels.

You'll surely ask me how I know and I'll say "I don't". So, don't bother. I have no proof. Only faith and trust which could also be misplaced. But I am entirely confident that the CFTC has been given, all wrapped up in a neat little package, everything they need to prove, beyond a shadow of a doubt, that the metals markets are wholly and entirely manipulated for the gain of a few bullion banks. Instead of acting promptly, to restore order and confidence in "free and fair markets", they dawdle. They stall. They issue no statements. They conclude no investigations. And, most importantly, they allow the crime to continue as if nothing has changed. Only now they are accomplices, to the point of being co-conspirators.

And this is the problem. Hope is gone. Not that the CFTC was some hoped-for, last bastion of integrity. That's not it at all. They are, instead, the proverbial "straw that broke my back". Because now that I know that the CFTC is negligent and corrupt and only serving to protect and defend their TBTF overlords, my hope is gone. And, again, I'm not talking about hope for a resolution to the metals manipulation, I'm talking about hope that the entire western political and economic system really isn't as corrupt and narcissistic as it seems. For it's impossible not to reach the following conclusion:

  1. The CFTC is protecting a major TBTF, Fed primary dealer by refusing to acknowledge the manipulation.
  2. If this one, government bureaucracy is in the back-pocket of the banks, all of the rest likely are, too.
  3. And if all of the agencies are in the back-pocket of the banks, then the politicians are, too, because most of the bureaucrats are political appointees.
  4. And if all of the politicians are in the the back-pocket of the banks, then the entire political system is a sham. There are no elections. It's all just an illusion designed to mollify the masses.
  5. And if that's the case, what kind of world do we really live in?

So, you can see my problem here. I suffer from "Low E". Why bother to write about all of the day-to-day stuff? Why mark up all my silly charts? Once hope is gone, soldiering on can get pretty challenging. Perhaps I can draw renewed inspiration from the idea of "awakening the masses". Logic suggests that only by operating within the matrix can you reach those still contained therein. But I don't know. I really don't. Inevitably, the first question is: Why try at all?

Let me work on that for a while and I'll get back to you soon. Maybe tomorrow.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 5, 2013 - 2:38am

The truth is the authority, the authority is not the truth.

The allegations of price fixing have been going on for 25 years, serious evidence has been provided since 2004- the CFTC have NEVER done anything, and they NEVER will.

Turd my friend, all that's happened is you've seen them for what they are, not lost the faith, just figured something else out.

Here's the deal though- even with all that manipulation, fixing, covering up, and basic BS, the price is going up relative to the dollar.

Jan 5, 2013 - 2:22am

Trillion dollar coin trial baloon

Floating out the trial balloon concept of a coin valued as 1 trillion dollars is the first step in acceptance of hyperinflation for the masses. Absurd the first time you hear about it, but like any debauchery, repetitious sin is easier than first time sin. Get people used to the idea that a trillion dollar denomination can even exist. After this is repeated enough, people used to dealing in $20 bills as the most common currency think it less absurd and even acceptable to even consider carrying a stack of $100s, particularly as inflation is already forcing a mental reset on what a reasonable grocery transaction requires.

Tenofswords points out above that a revaluing by about 1000 is necessary. I think we need to stop thinking of gold and silver as money. They are assets that are useful and that people want. Their values fluctuate, as we saw all too well today. That does not make them less desirable. They are real assets that can be easily stored by the common man. My closets are too small to hold many barrels of oil, ignoring the whole portability issue.

I don't think there will be a big reset in the value of PMs. It will happen gradually but irresistibly through inflation, with periodic small currency revaluations. The US is already poised to devalue our currency. By how much? A factor of 10 seems "reasonable", particularly since the math would be easiest for the dumbest among us. Lop off a zero, and a dollar becomes worth today's dime. A dollar coin does not seem so absurd anymore. Anybody remember people telling stories of when a soft drink would cost 15 cents?

The BEP is getting ready for a large currency exchange with all the new $100 bills being held back due to a "printing problem". Eventually, you will be given the opportunity to bring in 10 Franklins to get 1 brand new improved $100 FRN in a time limited offer. After a certain date, the old notes are not accepted for exchange anymore. They become trash. Out with the old, in with the new. The old system will be erased in a rush to exchange the old notes to preserve what value remains in them.

A PM value reset by 1000 times won't happen at once. The shock to society would be too great. MOPE requires boiling the frog slowly. And we will surely be boiled unless we prepare.

Inflation has been doing its part to steal your wealth, but a currency revaluation accelerates the process. Back in the day a luxury vehicle would cost about $5000. Today, about $50,000. A 10x devaluation has already taken place. A 10x monetary revaluation would result in an effective 100x reset.

A trillion dollar coin? Lay out your most absurd proposition first in any negotiation. Any ground you give up after that point will be a move toward a more moderate position. Ok - maybe minting a trillion dollar coin IS a bit silly. How about this - after much handwringing, let's revalue the currency by a factor of 10. That will help to pay off the national debt (what YOU owe for all OUR spending). We PROMISE this will help us to get our house in order.

Wash, rinse, repeat as necessary. That trillion dollar coin will eventually be minted. Sure, it won't say a trillion dollars anywhere on it, but someday people will wax nostalgically about these days.

Jan 5, 2013 - 2:14am

Gold as clothing.

After the weekend that we've seen. it's time to lighten to mood. Kudos to this man who certainly hasn't lost his E!

'I know I am not the best looking man in the world but surely no woman could fail to be dazzled by this shirt?'


Datta Phuge wears gold shirt in Pune costing over one crore rupees
Jan 5, 2013 - 2:08am

I have to ask.........

What the hell is HEH? What is MOPE? Thanks.

Jan 5, 2013 - 12:59am

On a side note

Something popped into my head today as I was reading an article about the idiotic $1trillion platinum coin idea. At the end of the ZH article it said that for a one ounce plat coin to have a melt value of 1Trillion, the metals would have to go up in value 1100 times what they are now. I understand that face value and melt value are different. Stay with me. Current silver price x 1100 is about $33000 per ounce. If I am not mistaken, a couple of months ago there was a glitch showing the spot price of silver at $33000. I saw the charts posted here. Coincidence? When gold flash crashed a few weeks ago there was rumor it was a sign from the EE third base coach to steal home. And a week or so later it hit that mark.

I know it is way out there, but a broken watch is right twice a day.

-from Zero Hedge: Now, putting the sheer legal idiocy of the proposal aside, and CNBC's John Carney has written a good article about why it is indeed, legal idiocy, the simple reality is that for this retarded idea to work, there has to be some justifiability, or even remote credibility of the "legal tender" backing the value. Sadly as the chart above shows, there can't possibly be such justifiability. Or can there? Remember, as we said, the chart above is indicative of reality at today's prices. So if the Treasury plans on literally coming up with ridiculous laws, what is there to prevent it from merely coining a one ounce, or half an ounce, or one gram Platinum coin and assigning it the value of $1 trillion. Sure it can. There is a problem with that, however: it is called currency devaluation and is also what FDR did with executive order 6102 when he confiscated America's gold - he basically devalued the US Dollar by well over half overnight (which, for all those curious, is the endgame in the current depression also, but we'll cross that bridge when we get to it). In other words, when one strips away with all the rhetoric, all the advocates of this insidiously stupid idea which gets a new life every time there is a debt ceiling crisis, are doing, is arguing for a massive devaluation of the dollar: because for the trillion dollar coin idea to be even remotely plausible, the price of Platinum, and by implication the entire precious metals complex, would have to go up by a factor of some 1,100.* It also means the value of the paper US currency would have to go down by 1,100. Which, by the way, is precisely what all those who wish for the Fed to continue funding America's unprecedented spending binge, which can never be satisfied by taxes alone, are hoping for. *(Emphasis mine)
Jan 5, 2013 - 12:45am
Jan 5, 2013 - 12:44am

Silver Dollar TBar Crowdfunding 2013

TF should start looking into crowdfunding in 2013/14. Its the same theory of the interest in buying a contract. Check out the JOBS act. SEC is laying out the groundwork for the future. Micro silver indexes.

Instead of a contract, we crowdfund a T-Bar outside San Diego. Name it Silver Dollar.

Have the girls dance and end the night with a yellow hat and some music from the CULT.

The empires agenda is to destroy. Lets have some fun. TF crowdfunding members can drop off the wife and kids

at seaworld and hit the Silver Dollar.

Don't fall for the movie stuff T. See below.

"For centuries, TFMetals stood as a beacon of hope in the Republic. But the Empire came, and with one savage strike, brought TFMetals to her knees."

Star Wars: The Old Republic Cinematic Trailer - E3 2010
Jan 5, 2013 - 12:41am

@ steveo

We are all given the opportunity, right now to decide what law we chose to live under.

There are bad people in all stations of our society today, and a lot of ignorant people supporting their existance.

I'm glad there are some good ones that haven't left. I agree and tend to enjoy the anarchist point of view, but until we have a society of people like the majority on this board we have a lot of work to do.

Most people are slaves to a system they don't understand, and if they did wouldn't support it.

My God, to think of the baby boomers willing to sell their kids into a system of slavery, even the WWII vets.

Nope, there needs to be a revolution between the ears of people and it's happening.

Standing for principle always trumps standing for issues ... (unless you are a politician these days). But that is changing.

Best get your own house in order and lead by example.

Just my thoughts.


Jan 5, 2013 - 12:27am

Bullshit, lawyers are 90%

Bullshit, lawyers are 90% scammers, working the system, working the case history while raping the real intent of the law.

Jan 5, 2013 - 12:21am

O/T: As in *way* off. But I'll keep it short.

About a year ago I had a PM (or was it email?) exchange with a fellow Turdite who was looking for a cheap/free Animas insulin pump for his special needs child. Unfortunately, I seem to have lost that entire exchange (grrrrrr).

Whoever you were, if you are still out there, and still have the need, would you please drop me a line ASAP?

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Forum Discussion

by SteveW, Jul 11, 2020 - 6:36pm
by SteveW, Jul 11, 2020 - 6:25pm
by TexasTonto, Jul 11, 2020 - 5:19pm
by ja1920voo, Jul 11, 2020 - 11:37am
by tork311, Jul 10, 2020 - 3:17pm