OK, Now Watch This

Mon, Jan 28, 2013 - 3:34pm

Earlier today, a friend passed along a link to this film.

Called "End of The Road: How Money Became Worthless", it covers many of the topics we often discuss here and it does so by interviewing many of the folks who champion our cause. I think you'll enjoy it immensely.

If you feel compelled to watch the film or buy the video in order to share it with others, please do so by following the links provided. Apparently, TFMR makes a little commishkey if you do.


About the Author

turd [at] tfmetalsreport [dot] com ()


Nana · Jan 28, 2013 - 5:12pm

What A Difference A Day Makes

My wonderful Father-in-law used to say, they went to bed one night and the next morning everything was different, the crash happened.

donnojackshit · Jan 28, 2013 - 5:24pm



Road_Scholar · Jan 28, 2013 - 5:28pm

Birthday cake

silver, gold, and Vega$

Istack · Jan 28, 2013 - 5:30pm
Admiral Ag Bar · Jan 28, 2013 - 5:44pm

Great movie TF.

It is on Net Flix streaming, if you have it.

Edit: Happy birthday!

J.P. Cubish · Jan 28, 2013 - 5:48pm

A Parable

Dumb luck made this fifth.

A frog was hopping around a farmyard, when it decided to investigate the barn. Being somewhat careless, and maybe a little too curious, he ended up falling into a pail half-filled with fresh milk. As he swam about attempting to reach the top of the pail, he found that the sides of the pail were too high and steep to reach. He tried to stretch his back legs to push off the bottom of the pail but found it too deep. But this frog was determined not to give up, and he continued to struggle. He kicked and squirmed and kicked and squirmed, until at last, all his churning about in the milk had turned the milk into a big hunk of butter. The butter was now solid enough for him to climb onto and get out of the pail!

I Run Bartertown · Jan 28, 2013 - 5:54pm


What kind of twisted logic allows people to believe that this addresses the sub-prime issue? It, like so much regulation, is just privatizing the burdens of their social engineering policies.


"New mortgage rules issued last week by the administration will have the effect of forcing lenders to approve prime loans to borrowers who would normally only qualify for subprime loans carrying higher interest rates and fees to cover the added risk of default...Banks are already under renewed pressure from federal prosecutors and regulators to make home loans to low-income borrowers with blemished credit as part of the administration's stepped-up enforcement of anti-redlining laws.

Before the mortgage crisis, lenders were able to hedge losses by placing such homebuyers in higher-cost subprime mortgages — something the government at one point actually encouraged as part of a strategy to expand credit opportunities for lower-income minorities and close the racial "mortgage gap."

But under the new mortgage rules, loans with subprime features do not fall under the official government definition of "qualified mortgages," and therefore do not provide a "safe harbor" against lawsuits and other action.

As a result, analysts warn lenders may end up having to "subsidize" riskier borrowers at the expense of other customers.

The Consumer Financial Protection Bureau, the Dodd-Frank Act-created agency that wrote the 800-page mortgage regulation, has decreed that the way to distinguish a prime loan from a subprime loan is by the interest rate charged, even though the main distinguishing feature of a subprime loan is a sub-660 credit score..."Under its tortured definition of 'prime,' a borrower can have no down payment, a credit score of 580, and a debt (-to-income) ratio over 50%," as long as the borrower is charged a prime rate, said former Fannie Mae chief credit officer Edward Pinto.

Mortgages carrying a prime rate, or one within 1.5 percentage points of the national average, will have the strongest level of legal protection, according to the regulator. Analysts say this rule effectively limits lenders' ability to price for risk. Lenders who charge rates above the 1.5-point threshold open themselves up to legal liability.

In addition, lenders who underwrite such nonqualifying loans could open themselves up to federal charges if recipients are minorities...CFPB has the power to enforce "fair lending" laws, and is already coordinating lending-discrimination cases against banks with the Justice Department.

As part of recent consent decrees, Justice has ordered several bank defendants to approve prime-rate mortgages for African-Americans and Latinos who otherwise would not qualify for them...For instance, First United Security Bank of Alabama must set up a "special financing program" for African-Americans.

According to the 25-page federal order, the program must offer them interest rates and other terms "more advantageous to the applicant than it would normally provide" — even if the applicant "would ordinarily not qualify for (a discounted) rate for reasons including lack of required credit quality, income, or down payment."


J.P. Cubish · Jan 28, 2013 - 6:08pm

Why would I pay for this?

I get it. Gold is good. I can hide it. I can protect it. No counter party risk.

Just make the movie public.

Why would I pay for this? You must be higher than I am to think I would pay for this.

Way to loose credibility tho.


Weak guys, Weak.

Anonymous · Jan 28, 2013 - 6:13pm

Removed comment

Removed comment.

Ircsum · Jan 28, 2013 - 6:17pm


So now the banks are being forced to act irresponsibly, as opposed to doing it off their own bat with the sub-prime fiasco that almost shut down the world. At least we won't have another sub-prime crisis.........it will be a prime crisis instead. angry

Thanks for sharing this info.

Bollocks · Jan 28, 2013 - 6:23pm


Just thought I'd say arse.

No reason.

Bollocks · Jan 28, 2013 - 6:27pm

End of the Road has been out for some time...

I bought it when it first appeared.

Good vid. Very well put together and a top-quality production wink.

ag1969 · Jan 28, 2013 - 6:35pm

Bernanke to Oprah: "I've Been Doping for Years"

Bernanke to Oprah: "I've Been Doping for Years"
I Run Bartertown · Jan 28, 2013 - 6:48pm


"At least we won't have another sub-prime crisis.........it will be a prime crisis instead."

At best. On a longer timeline, it will result in a utopia where 'we're all in it together' and mortgage rates are so high that no one can buy a home. A cynic might note that it is simply the natural evolution of the failed efforts to 'bring the bottom up', if it can't be done, there's nothing left but to bring the middle down. The elite will just sidestep the mortgage market with some 'innovative' new brokered financing arrangement. A conspiracy theorist might note that it dovetails nicely with Agenda 21's views on how we ought to be living.

But, don't worry. It's not as if Fannie Mae does not have a conscience. Here's Daniel Mudd (great name for this guy) explaining (2:10 mark) exactly who the 'conscience of Fannie Mae' is:


paisan · Jan 28, 2013 - 6:50pm

I watched this when it first

I watched this when it first came out. I don't think I actually learned anything from it, but its a nice bite-size chunk of information for friends/family that aren't awake yet.

Silver_investor · Jan 28, 2013 - 6:52pm


Pretty clever. 

The man who stole a leopard · Jan 28, 2013 - 6:53pm

RE: paying for stuff

Slightly OT...found an interesting way of monetizing links, thought the Turdville site admins might want to look into it. It's called gumroad, here's how it works:

An introduction to Gumroad.

happy bday

...and Happy Birthday! I found this picture of colorful ponies holding presents, hope you like ponies.

S Roche · Jan 28, 2013 - 7:00pm

Kitco Lease Rate Spikes...The Final Word

The latest bad-data spike (down) has been fixed.

If you have any queries about Lease Rates displayed on Kitco charts just check their printed numbers, which also include the daily % change https://www.kitco.com/market/lfrate.html . They send the wrong numbers to Sharefin and the chart comes out wrong (this time they left out a zero, so -0.009% came out as -0.09% and so on. It's easy to do if you don't give a shit, like Kitco).

Please also note that the information about Lease Rates on the Kitco page above, is wrong:

Lease rates displayed are an indication only of bank to bank borrowing charges. [ Correct-ish - SR] The degree to which lease rates may be displayed as negative would suggest the degree to which there is a lack of demand to borrow the metal. [100% wrong - SR]

Higher GOFO (demand for gold) results in negative lease rates (LIBOR Minus GOFO = Lease Rate).

Anyway, those who work in gold say that GOFO is not indicative of the real rates at which banks lend gold, they all have their own rates and GOFO is not it, just what they are happy for their competitors, or the public at large, to know. Hardly surprising.

Jesse has now updated his blog reflecting the above: https://jessescrossroadscafe.blogspot.com.au/

All the best,

Bollocks · Jan 28, 2013 - 7:12pm

"colorful ponies holding presents"

And I was hoping today wouldn't get any worse.

J.P. Cubish · Jan 28, 2013 - 7:25pm

Losing credibility

50¢ at a time.

Gimme a break and lighten up. I just thought it was a good movie and wanted to draw attention to it.

Dolomite · Jan 28, 2013 - 7:28pm

Turd thanks for the

Turd thanks for the video yes

All the usual suspects and as always Mike Maloney simplifies everything so well.

Happy Birthday amigo:

And of course some Talking Heads on your 47th

Talking Heads "Burning Down the House" ‌‌ - Bohemia Afterdark
I Run Bartertown · Jan 28, 2013 - 7:40pm

Gold overpriced?

Doesn't look like it by this measure:


"Well, as far as "how much" gold there is, wikipedia.com lists the gold holdings of the "sovereign United States" as 8,133.5 tonnes of gold, which, at about 32,000 gold ounces per tonne, is 260.3 million ounces, which pretty much agrees with the figure of 261 million ounces claimed by the Federal Reserve, which, at $1,670, per ounce is a lousy $436 billion.

... the entire gold holdings of the Federal Reserve is a "lousy $436 billion,"

I mean, the damnable, bankrupting, moronic, treasonous federal government DEFICIT-spends that selfsame $436 billion every three months! Which doesn't even count the $2.4 trillion spending in the federal government's budget that IS funded by actual taxes, duties and fees! Hahaha!

So, you can see why I am laughing at the gold in Fort Knox, when every bit of all that gold is only enough, measured in today's dollars, to replace the federal government's massive BORROWING for a few lousy months, and then the gold is all gone!

And, perhaps more telling, is that very bit of gold held by the federal government would only pay for 6 weeks of government spending! Hahaha!"

Sheetrocker I Run Bartertown · Jan 28, 2013 - 7:46pm


It's all coming together so beautifully. This reminds me of the Ally Bank ads that were running awhile back. "We are going to make loans available to a lot of people who otherwise couldn't afford to buy a car." Everything that got us in this mess is still going on, only more so.

Can anyone show me one law passed in the last few years that was beneficial to productive Americans? Every time one tyrannical piece of legislation is held up or beaten back, a dozen more pop up. These bastards are relentless. I really need to stop reading this crap. All it does is make me angry, then depressed cause I can't do anything about it.

Cloward-Pivens is in full flower. TBTF are bigger than ever. We are at war with half the world or trying to be. Anyone believing these criminal scum will ever be prosecuted or held accountable is doing hard drugs. What can we do? Ideas?

Silver Spurs · Jan 28, 2013 - 7:48pm


love the video post you presented. Thanks

Happy Birthday, TF - Hope you get the birthday present you wish from Mrs.T !!

· Jan 28, 2013 - 7:53pm

Bollocks- those ponies

Are downright lovely compared to the miners... NUGT hit 52 week lows today, down 70% over the last 11 months. I'd rather look at ponies than that chart!

PE ratio for the entire GDX index is 10... and a 1% dividend... And the PE is calculated based on a gold price of 1500 for the year. Unbelievable.

Rui · Jan 28, 2013 - 8:01pm


skip. sorry.

Bollocks · Jan 28, 2013 - 8:02pm
ForWhomTheTollBuilds · Jan 28, 2013 - 8:16pm

Maybe this was already

Maybe this was already posted, but I was commenting on this the other day:


So much for the giant horrifying collapse in the gold lease rates. I don't consider myself an expert in much of anything, but even I saw that one as a simple data error (why do the errors always serve to scare the shit out of longs over the weekend?).

Hope no one panicked and sold their stack!

Sheetrocker · Jan 28, 2013 - 8:18pm
I Run Bartertown · Jan 28, 2013 - 8:21pm

Soros Scrambling

It seems he is now inspired by some brash upstarts who are rocking his NWO boat:

"Recent developments seem to offer grounds for optimism. The authorities are taking steps to correct their mistakes, especially with the decision to form a banking union and the outright monetary transactions programme, which would allow unlimited intervention by the European Central Bank in the sovereign-bond market. Financial markets have been reassured that the euro is here to stay. That could be a turning point, provided it is adequately reinforced with additional steps toward greater integration.

 The only way to reverse the trend is to recapture the spirit of solidarity that animated the European project from the start.

 To that end, I recently established an Open Society Initiative for Europe (OSIFE). In doing so, I recognised that the best place to start would be where current policies have created the greatest human suffering: Greece. ...The fate of the many migrant and asylum seekers caught in Greece is particularly heart-rending. But their plight cannot be separated from that of the Greeks themselves.

We could set up solidarity houses in Greece, which would serve as community centres for the local population and also provide food and shelter to migrants. The EU's asylum policy has broken down. Refugees must register in the member country where they enter, but the Greek government cannot process the cases. Some 60,000 refugees who sought to register have been put into detention facilities where conditions are inhumane.

GREECE/ "xenophobia and extremism"

A woman asks for a bottle of milk from a member of the Greece's far right Golden Dawn party in Syntagma square in Athens Photograph: Yorgos Karahalis/Reuters

Currently, Golden Dawn is making political headway by providing social services to Greeks while attacking migrants. The initiative that I propose would offer a positive alternative, based on solidarity – the solidarity of Europeans with Greeks and of Greeks with migrants. It would provide a practical demonstration of the spirit that ought to infuse the entire EU."



I'm not particularly religious, but I remember something about how the devil cannot create anything...he can only make a grotesque caricature of that which is natural, organic, and good.

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