Lies, Damned Lies and JPMorgan

Fri, May 3, 2013 - 1:55pm

When you don't fear prosecution, you're free to do and say anything you'd like.

The Corruption is total and rampant. But it's not just the TBTF banks. It's the media which shills for them. It's the pundits who misinform and disinform for them. And it's the bureaucrats and politicians, each one playing small roles as accomplices and co-conspirators.

Today, we got another BLSBS report. "Hampton Pearson at The Labor Department" breathlessly informed us how wonderful the numbers are, particularly the "huge" improvements to the prior month's data. Zandi beams, Goolsby gloats and LIESman smiles. Ain't it grand? "You see, that's why the stock market has been moving up! It's a forward-looking indicator!! Yes, indeedy!!!"

Just brutal. Of course, no mention is made of the Participation Rate being stuck at 1979 levels and certainly no mention of which types of "jobs" were supposedly "added". It's all just A Big Joke. Once again, ZH cuts through the Lies and BS and lays it all out here: With apologies to the Tylers, here are the main paragraphs you need to read:

"It is when one considers that there were 135,474,000 full time Establishment Survey employees in April (rising by the much trumpeted 165,000), all of which worked on average 34.4 hours (down from 34.6 in March) according to the BLS. Multiply these together and one gets 4,660,305,600 total hours worked in April, a drop of 21,385,800 million hours from the 4,681,691,400 total hours worked in March.
Then apply the average hourly wages of $23.83 in March and $23.87 in April, and the total wages paid out in March ($111.565 billion) compared to April ($111.231 billion) amounted to a drop of $323.2 million.
Had the average weekly hours stayed flat as expected, this number should have been an increase of $323.5 million or a $646.8 million swing!
In other words, the US economy added 165,000 jobs and yet US businesses paid $323.2 million less in total wage compensation: only the second time there was a decline in the gross total monthly wages paid in 2013.
What does this mean for the bottom line?
Well, had the BLS reported flat average weekly hours worked at 34.6 as Wall Street had expected, while companies were paying out the same amount of hourly wages in April, the result would have been that instead of the BLS reporting a 165,000 increase in jobs, it would have had to report a drop of, drumroll, 618 thousand workers, or total April workers of 134,690,913: a 783 thousand negative worker swing, more than wiping out not only all the gains of April, but all prior upward monthly revisions as well."

You see? It's all just one big, stinking pile of force manure. Have you heard this explained on CNBS? Have you read this analysis on MarketWatch? Of course not. The Big Lie must be maintained.

And then you have this. Breaking late last evening and discussed in the previous thread, our old pal The Wicked Witch seems to be in a heap of trouble. But is she really? Did you already forget that Jamie Freaking Dimon himself was accused of lying and deceiving Congress back in March? Why should Blythe be worried when Jamie still walks the street? And why should she worry when her entire firm operates with impunity because of its "systemic importance"? This: leads to this:

So, in the end, what does it all mean?

The Criminals and their accomplices are pervasive and everywhere. Though they remain in control and unchallenged, their reign of lies is fleeting. As this pertains to gold and silver...TAKE DELIVERY AND STORE OUTSIDE OF THIS CRIMINAL SYSTEM. The TBTF banks have built a fractional reserve structure (full of lies and empty promises) that is doomed to failure, perhaps even in the short term. Your window of opportunity to act is closing. (Read this from Denver Dave: Please do not be deceived by the liars and please keep adding to you stack.


About the Author

turd [at] tfmetalsreport [dot] com ()


May 3, 2013 - 1:56pm

I just wanted to get this off my chest

I hope to have another post for you later today, complete with charts and CoT analysis.

May 3, 2013 - 1:59pm

top 10

oh yeah


May 3, 2013 - 2:00pm



WOW! You guys are fast. 

Feed The TURD! 

May 3, 2013 - 2:01pm

Yeah top ten again

Love ya Thurd my thecond Thurd at that an all.

I am Turd

May 3, 2013 - 2:04pm

Well said, TF

I feel the same way. But there's not much I can do other than be patient.

May 3, 2013 - 2:04pm


Could it be?

Edit: Not thurd but it looks like fifth... I was planning on chicken tacos tonight at the house for dinner. Now Thanks to the fact that I am FIFTH I think a FIFTH of Patron is in order to go with the those tacos!

May 3, 2013 - 2:04pm


After reading all of the posts over the last few weeks I have come to the conclusion that another beat down is in order. At that point there will not be one miner that can produce product at a profit. That kinda sucks because I do own shares in three companies. Therefore the next major event will be the battle of supply running out as mines close versus the need to keep prices down. It should be interesting but this slow collapse has a long way to go from what I see.

May 3, 2013 - 2:04pm


You guys might want to adjust your thinking there. Just as an aside...does the Turd count as a first ? if not I am still

Theveneth and I still

 am Turd

May 3, 2013 - 2:07pm

The More LIES TPTB Tell

The sooner the implosion.


10th Amendment:

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

The Watchman
May 3, 2013 - 2:08pm
May 3, 2013 - 2:08pm

First time

In the top 10? Yeah!

And first to hat tip Turd. Now when my other half tries to prove that the economy is improving by pointing to the payroll report, I will have ammo to refute it. Thanks, Turd!

Kill the Rooster
May 3, 2013 - 2:10pm

Las Vegas LCS Update

The one reputable LCS in town, Sahara Coin is completely out of ASE (except some proofs), have been for weeks. They have only $20 face value 90% half dollars. They do have a website with up-to-the-minute buy/sell prices, which is nice. All the other LCS in town are a joke.

I finally got my ASE Monster Box from Tulving. I usually sell most of my bulk at a modest mark-up per tube. A note on Tulving: they charge you the ASK price, not BID. I know a lot of you like Tulving, but it is stressful with all their excuses why it hasn't shipped yet. And in the meantime I suffered through the mid-April smash with a $2,000 market loss on the box. My cost basis is $31.38 / oz.

I have my ASE for sale at $32 each, and demand has been sluggish at that price.

Does your LCS have their buy/sell on a website? Would be interesting to compare.

Dark Matter
May 3, 2013 - 2:12pm


In hindsight, we all should have invested in the stock market four years ago... And not into Gold.

We would've made more money - and buying cheap Gold and Silver coins today.

Alas! Nobody can predict the future.

May 3, 2013 - 2:12pm


But for some fun and to relieve some of the pain of all the lies!


Turd a good sip of Tequila might help


Thanks Alex

Bill of Rights
May 3, 2013 - 2:13pm

The Great Gold Debate Continues, And It's Serious

``The gold standard, in a new incarnation, quite obviously no longer is a fringe issue. It has entered the mainstream. The conservative, libertarian, and Tea Party Republican voter base, and the ethnic and union members of the Democratic voter base, are receptive. Interestingly, blacks and union members, when polled, appear even more enthusiastic for gold than libertarians and conservatives....''

May 3, 2013 - 2:14pm

"Why should Blythe be worried when Jamie still walks the street?

No reason. She's better looking, for one. And, as she's testified, she just does it for clients.

Doc Scurlock
May 3, 2013 - 2:15pm

Great rant!!

Well said Turd! BTW, Turdites don't despair due to the manipulation/deceit. The lying isn't important, its the recognition of the lying that is important. Don't swallow the bullshit, and just keep stacking!

May 3, 2013 - 2:16pm

chumbawamba guest post on ZH + wish-fulfillment from WB7

For longtime readers, may be of interest. It's just a prologue promising more, but good to see chumba back at it.

For those who don't know (of) him, may be a little raw.

But a little bit of 'internet-tinfoil-history' -- he is one of the guys who did the equivalent of maxing out the cards and BTFD in 2009 (or at least claimed to), and stepped off the grid. Forthcoming installments should be an interesting read.

His signature line was 'I am Chumbawamba'.

I am not holding my breath, BUT funny:

May 3, 2013 - 2:27pm

When is it going to happen?

It is obvious that the paper market is manipulated for some to make money or benefit in a way that most do not understand. However this market is not only about them. It is affecting the global demand and people all over has been grabbing the goods with both hands for some time now. I am just wondering when the effect of this will be hitting the market????

one problem I see that the central banks are also hoarding the gold. At first it looks good but it is not. First they buy. Then they do not take the delivery of them to their homeland so the shiny is staying in the same vault. The custodians are you know who and they begin to loan the precious to those who sell them at the first place. 

Then they sell more and push the prices further down where more central banks are adding to their stocks. And the cycle repeats itself. 

Only way of prices going up is the enough of actual stuff disappearing from the circulation.

Just wondering when is it going to happen???

ancientmoney Dark Matter
May 3, 2013 - 2:32pm

@Dark Matter re: shoulda . . .

"In hindsight, we all should have invested in the stock market four years ago... And not into Gold."


On May 1, 2008 gold was $853 and now it's $1467.

Dow was 13,080 today it is 14,984.

Did much better in gold . . .

Southern Cross
May 3, 2013 - 2:34pm

Guns - Off Topic

If the police and gov. exclusively carry guns, crime is rampant. The crooks will also carry guns. Honest people are disarmed and become victims. There are not enough police or gov. to balance the packing thugs. 

If honest people carry guns seen and unseen in volume, crime drops to zero. Guns in the hands of honest people eliminate crime. It's honest people carrying guns that eliminates crime and not the police or gov. Guns did not create the wild west. Guns over time eliminated the wild west. The result became a quiet lifestyle within communities so people stopped carrying weapons. Now it's time to put the guns back on.  We have swung full circle and crime is everywhere. Crime is rampant and gov. and police are mixed up in the crime with unconstitutional laws, misuse of power, and outright criminal behavior. Do not allow anyone to take your guns. This is a life and death issue just as you would not let anyone take your family or wealth.

The proof is in the recent Mexico vigilante police groups. Video below. Youtube "Mexico vigilantes" and verify guns in the hands of honest people eliminates private and public crime. Don't accept the media's negative spin on Mexican vigilantes. These people are succeeding. These people are holding court and placing criminals in homemade jails. The number of communities self policed is growning. Mexician people are having huge success. Crime has dropped to almost zero. I would trust vigilantes who are stakeholders in their community quicker than I would trust the police. Notice in the video the Mexicans do not allow the gov. or police interferance or access to their communities. The police and gov. were part of the corruption. Criminals don't want to face a gun when launching crime. They look elsewhere. Criminals respect guns and not you. 

Below is an example of how guns free people and crush evil. If you have not watched this video please take the time to be inspired as to what can be done.  America is not finished as long as we have our guns. It's time to organize.

God bless each of you.

Mexican Vigilantes Stand Up Against Crime
May 3, 2013 - 2:35pm

@Turd . . . DoJ won't go after TBTF . . .

but they'll sue the state of Kansas over guns . . .

Sort of tells you what their priorities are.

May 3, 2013 - 2:38pm
May 3, 2013 - 2:41pm

Dark Matter

agree on the invest in stock market 3-4 years ago

But that's a rather dangerous proposition.

We have no growth in the economy and stocks continue to ramp and we have a pretty good idea why--This is a game for the HFT to play.

My guess we wake up one morning here in US and futures are down a motherload because of some problem somewhere maybe even here. And I do not think the typical retail investor is playing the market.

15 years ago plus I use to be a Trustee of a retirement plan; decent sized one. Two things. Got to break bread with Marc Faber and got a lot of education from our prime money manager, Gary Brinson who was a Global Tactical Asset Allocator. He really lightened up on equities in 1999 and got blasted in early 2000 when nasdaq went nuts.

His reply was the equity market-esp US was way overvalued (sound familiar?). Well by late summer 2000 after he lost a lot of clients he was proven right. his long term performance was stellar. Short term he got caught in a vise.

Our problem, speaking of vises, is when does the Fed and Treasury let go. Nobody has the wherewithal and bucks available to trade in the amounts that have been traded in the paper metals sector overnight and 3 weekends ago unless its the Fed of Treasury--JPM only has 140 bil of book value and that's suspect due to mark to fantasy so JPM might be doing some trading on its own but someone big is backstopping JPM.

Its all quid pro quo for saving the banks anyway.

The taxpayer saves the banks so the banks get to screw the taxpayer in the market too.

May 3, 2013 - 2:43pm

May 3rd OI in PM increased by

260 contracts in silver - 1.3 million oz and 66 contracts in gold - 6600 oz Harvey will upgrade it tomorrow. Yesterday and today OI in silver increased by almost 3 million oz (1.625 + 1.3) Not bad for 2 days.

May 3, 2013 - 2:47pm

Gold vs. Dow since start of this gold bull . . .

January 2001 gold was $271, today $1467, about 500% increase;

January 2001 Dow was 10,600 today it is 15000, about 50% increase.

A lot depends on where you want to set the markers. If you were early in recognizing the bull in gold early-on, then everything since then in terms of manipulation is unpleasant, but still better than the Dow alternative.

ancientmoney Southern Cross
May 3, 2013 - 2:53pm

@SouthernCross re: guns . . .

"It's honest people carrying guns that eliminates crime and not the police or gov. "



When anyone asks me why I concealed carry, I say:

"Because when precious seconds count, the police are minutes away."

Police mop up the crime scene after it happens--they rarely prevent a crime from occurring.

Southern Cross
May 3, 2013 - 2:55pm


GLD has been losing 3-5 tons a day. There are appoximately 200 trading days in a year. I believe this rate will soon accelerate as concern grows. For example as gov. debates retirement accounts those who care to see down the road will accelerate withdraws and where might they hide? Paper is now out. Physical is one alternative in a growing sea of few choices.

My opinion is if GLD continues to lose at this rate we have less than one year for a serious crisis in physical. I also think the crisis will appear sometime before GLD registers zero inventory. Whether GLD is paper, physical, or mixed inventory is not as critical as how soon go away.

GLD is cooked at this rate. This is what those in power have planned. GLD will die a prolonged death. GLD's death will sound a 5 alarm fire.

Physical is winning but the battle has been very bloody and a snails pace.

May 3, 2013 - 2:56pm

Re: Niall Ferguson CCTV Interview

I posted about this a few days ago, it's now available to watch online...

Dialogue 05/02/2013 Decline of West & Rise of Rest

(reposted from end of last thread, put it there by mistake. )

May 3, 2013 - 2:57pm

@ Turd

Your speaking to the choir M8, We know all this, we read here daily (often hourly). I often feel as if you are addressing the vast majority of Homo Ovis aries out there, as if we here are unaware of where you are coming from or what you are on about. We here get it though and share you frustration.

I for one have seen your frustration boiling though in the past few weeks, as if it is finally getting to you, The corruption is total and rampant, They are in control. But of what ? Shuffling the deck chairs, deciding who is first into the life boats?

None of it is your fault or in fact your responsibility, you have done far more than many others to raise the alarm and alert like minded people and along the way have also attracted many more to sound the clarion call with you, those that hear it have spread the word and responded in like. Those who refuse to hear or acknowledge the message by now are probably and basically beyond any help you might provide here.

Have a rest man, relax, recharge. There are only so many you can reach as a single person and you have done that already. Those who do not already understand at this point in time probably never will or when they do will be too late to help. We all see ignorant people who accept the status quo every day.

It's probably not in your nature but there comes a point in time when you have to concede a body count and accept that you have done all you can just to preserve your own momentum and energy for what you believe in and fight for. It's called consolidation.

Regroup, rest, consolidate, conserve energy for the fight ahead, and speak to those who are not in doubt for the rest are already moving deck chairs around.

I AM Turd

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