Getting Ready

Sun, Jun 9, 2013 - 1:42pm

I suspect we are about to have a rather consequential week, therefore, here's a Sunday post to get you started.

There's certainly a lot of disgust and angst out there at the price action from Friday. Put me in that category, too. The U.S. unemployment rate rises from 7.5% to 7.6% and it's used as a rationale for a 2.5% selloff in the price of gold? Uhhhmm...yah...that makes a lot of sense. I guess what doesn't make sense is going over it all again as I made my frustration pretty clear in the previous post. In the end, the desperate scheme of The Bullion Banks to transfer as much short obligation onto the backs of the Specs continues unabated.

This week's CoT report showed next-to-nothing in terms of weekly changes to net bullishness or bearishness. The real action, though, sprang forth from the monthly Bank Participation Report. Again, it is this report that many analysts use to calculate the net long or short positions of the individual Bullion Banks...and this month's report is a doozy!

The report shows that not only are the major Bullion Banks no longer net short, they are actually NET LONG gold futures. I've seen one report that suggests this is the first time the Bullion Banks have been NET LONG since 2001. I've also seen a report suggesting that JPM itself is now net long as many as 50,000 contracts! IF this is true, and it's simply a matter of correctly interpreting the data (of course the DATA ITSELF has to be accurate), then there can be NO DOUBT that the precious metals are on the verge of a MAJOR BOTTOM followed by a ferocious rally.

The only thing I'd like to add to the discussion is the rationale for JPM's move into NET LONG territory. The shortages in their gold vaults has been well-documented and clearly this has much to do with it. But there seems to be a lot of curiosity this weekend as to how JPM can be net long so many gold contracts yet still be net short so many silver contracts. The answer likely lies in offshore and OTC positioning, but as this relates directly to The Comex, I think that part of the JPM gold position is actually a hedge against their remaining silver position. Huh? Let me explain.

As you know, I watch the OI and CoT levels pretty closely and I've been banging the drum pretty hard for months about the unusual and exceptionally large Comex Commercial GROSS LONG position. This gross level of Commercial long contracts has historically and consistently fluctuated between 30,000 and 45,000 for the past several years. At price peaks, the gross level would be close to 30,000 and, at price bottoms, the number would rise to somewhere near 45,000. Essentially, these "other commercials" added contracts at lows and then closed them out at highs, making a tidy profit from anticipating how JPM was going to once again fleece the Spec Sheep.

Well, something flipped with this last price cycle. At the lows of last August, the Commercials had again built up a large gross long base (47,797) and, by the time price was capped at the announcement of QE∞ in mid-September, this position had been trimmed back (32,206). During this entire Cartel operation in the nine months since, you would have expected that the Commercial gross long position would have grown again. But, would you have expected this?


8/14/12 $27.78 47,797

9/11/12 33.46 32,206

10/23/12 31.66 35,786

11/27/12 34.03 42,525

12/31/12 30.29 45,415

2/5/13 31.79 46,293

3/12/13 29.13 51,929

4/9/13 27.97 61,060

5/7/13 23.94 65,703

6/4/13 22.52 66,857

OK, so what the heck does all this mean? I'll try to bring it all together in some sort of coherent form:

  • Caught flatfooted and enormously short paper metal at the initiation of QE∞, a deliberate and calculated plan has been orchestrated by the major Bullion Banks, in particular JPMorgan.
  • By driving price the price of gold almost $400 lower, The Gold Cartel has been able to reduce their general liability by nearly 80% ( and, by virtue of the latest Bank Participation Report, some Bullion Banks have been able to move NET LONG for the first time in over a decade.
  • If reports are correct the JPM has flipped from 50,000 net short to 50,000 net long, we must conclude that the operation to smash gold is close to complete.
  • However, even though silver has been smashed a greater price percentage than gold, JPM has been been blunted in their attempts to completely cover their net short silver position as the "other commercials" (who at least on the surface don't appear to be JPM itself) have added at least 20,000 more longs than they have historically ever carried.
  • And notice that the gross long position shown above has continued to rise, even in the face of sharply lower prices over the past eight weeks. These are some very deep pockets that, clearly, are not being shaken out. Instead of selling on further weakness, they continue to add.
  • JPM could attempt to jam silver prices even lower in an increasingly desperate attempt to frighten these longs but at what cost? By doing so they lose big on their gold position and further exacerbate their already tenuous physical/deliverable gold position.
  • And it is this "juggling act" that leads me to think that this entire operation, which began a brutally-long nine months ago, is nearly finished.

You see, by moving so deeply long in gold futures, JPM has effectively hedged much of the remaining silver short position that they've been unable to cover. At its most basic level...if they are forced to cover silver into a rising price, the potential losses they'd incur will be more than equaled by the gains they'd show in gold. (Just for fun...If you're long 50,000 contracts and price rises $500 back to the August 2011 highs, you make $2.5B!)

Now, all of this is well and good and NO DOUBT foreshadows much higher prices for both metals in the weeks ahead. However, none of this is going to matter much to the Spec HFTs which are expected to pounce on the metals this evening, particularly in silver. The fact that China is "closed" through mid-week will only serve to exacerbate the paper price volatility. However, IF I'm right about the ideas laid out above, price should show surprising resilience this week. Gold has been very well bought each and every time that attempts have been made to drive it down through $1350. Let's see if this continues. Silver, too, has hung tough around $22 and has bounced back twice from "shock lows" near $21.

So, I'll close this post the way I began. This is going to be a very consequential week for the that will tell us a lot about the short-term and intermediate trend for price as we head into summer. Nearly every indicator that I've traditionally followed is indicating that a bottom is near and trend change is coming. Let's see where we go from here.


About the Author

turd [at] tfmetalsreport [dot] com ()


Green Lantern
Jun 10, 2013 - 12:00am

Re: Edward Snowden-My Hero

I appreciate your sentiment and all the sentiment on Mr. Snowden. He is brave. He has ethics. But what exactly should we be doing to support him?

Whistleblowers don't exactly have a stellar record of taking down governments. sure, occasionally a whistleblower might be successful in exposing some corrupt corporation but I have to wonder if even he is aware of what he is up against? As we know reprisals are not uncommon and in essence one man going up against goliath who controls all the media.

Would a million people marching in Washington make a difference? Possibly in terms of public awareness but right now I think the public buys ya gotta give a little to get a little.

After WW1, when veterans marched in Washington to get benefits owed to them, the gov. called upon the national guard to whip their asses. Literally. They gassed 43,000 veterans. Of course one day the guys who gassed them would be veterans themselves.

History repeats: Occupy Washington DC 1932, World War I veterans gassed by army

At what point does gov say enough is enough with the court papers, with the protest, with the whistleblowers and simply call on the 82nd airborne to enforce martial law?

How many 40 and 50 something individuals who might be vocal on a blog, gonna say to their family, I had enough, I'm giving up my anonymity and I'm going to fight goliath? How many PFC Jones and Officer Smith's are going to jeapordize their jobs by telling their commanding officer, I follow the constitution, not your orders? Human's don't like giving up security for a principle. Most that is. there is a fine line between being a martyr an a revolutionary. A revolutionary has a game plan that he knows will effect change.

I ain't saying there isn't a way to derail the train, I personally don't know how to do it except get out of the way and stay low.

Does Alex Jones with a bull horn and David Icke charging 50 bucks a person to hear him talk, make a difference? I don't know. Not to me. I know what's going on. Once you breach the gates, then what? Do the peeps in control then say, oh no, we'd better step down or do they say, time to bring out the heavy guns?

Could letting him speak at all be allowed so to give a message? You can't win.

Jun 10, 2013 - 12:21am

@ Green Lantern

"I appreciate your sentiment and all the sentiment on Mr. Snowden. He is brave. He has ethics. But what exactly should we be doing to support him?"

I agree. The problem is 'the people' that supported the corruption. And it will take time to fix. I think on this board, the whistleblowers, are leading the way.

And the last segment of Karen's video is indicative of where we are, and Ernie brings out both sides.

KarenHudesErnieHancock130606 4 4
Jun 10, 2013 - 12:24am


Abolish all Federal Social Programs, Federal Pay-and-Forget Sales Tax Exclusivity, State In-Rem Property Tax Exclusivity, Real Gold and Silver Coinage Money Exclusivity, Pay Off All Federal and State Present and Future Obligations with 100T FRN, State Social Safety Nets, Out Law Federal and State Bonds, Out Law Federal and State Debt, Out Law Federal and State Fiscal Deficits, Abolish Paper Money, Abolish Federal Reserve Notes, Abolish the Federal Reserve Bank, Reward Productivity, Penalize Unproductivity, Redeem FRNs at $1,000,000.oo per gold ounce, and Restore the Republic.

That is one tuff nut to swallow without some major dislocation pain by all.

Player - Baby Come Back
The Babys - Isn't It Time
The Watchman
Jun 10, 2013 - 12:26am
Jun 10, 2013 - 12:30am
Jun 10, 2013 - 12:58am

It's all an illusion!...

Up is down...& down is up!...It's the new normal!!!...

Bag Of Gold
Sheetrocker Green Lantern
Jun 10, 2013 - 1:01am

@Green Lantern

I value your posts and always read them, even though I might not always agree. I understand the sentiment you express, and know fully what we are up against.

The Bonus Army had one major flaw in their protest, their certificates were not redeemable until 1945. However, in 1936, Congress did pay them their bonuses early, overriding Roosevelt's veto to do so. Maybe in the end, their sacrifice did matter.

The US has a long tradition of shitting on their veterans, which is at it's height right now. I think more of them are starting to realize this, but somehow the government keeps finding new recruits.

I am pessimistic myself at our chances, but try to do what I can in my own small way, trying to wake people up. What has keeping a low profile gotten us, except deeper into a totalitarian state?

Daniel Ellsberg made a difference with the release of the Pentagon Papers, only it's forgotten and things go on as before.

I don't know if anything can make a difference, but feel we must try. If we lose, would the world the elite have planned for us be worth living in?

This is in no way a condemnation of your thoughts. We are between a rock and a hard place, and there is no easy answer.

I'm not a fan of some of the things Churchill did, but he certainly had a way with words. I often think of this quote.

If you will not fight for the right when you can easily win without bloodshed; if you will not fight when your victory will be sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a small chance of survival. There may even be a worse case: you may have to fight when there is no hope of victory, because it is better to perish than to live as slaves. - Winston Churchill

Dyna mo hum
Jun 10, 2013 - 1:03am

Taliban does not

use Verizon.

Jun 10, 2013 - 1:46am

Bonus Army

part was paid in 1936, the balance in 1945, my grandfather was a vet from WWI, fortunately, he had a job through the depression , but what is important to remember, until WWI, soldiers received a pension for their war service, this changed with the VA scam, made Johnson&Johnson among others wealthy and was in the infancy of the gubment/corp takeover of the system.

Jun 10, 2013 - 2:10am

Coordinated attacks by the Illuminati 1790

London Corresponding Society was a moderate-radical body concentrating on reform of the Parliament of Great Britain, founded on 25 January 1792. The creators of the group were John Frost (1750-1842), an attorney,[1] and Thomas Hardy, a shoemaker and metropolitan Radical. The aim of the society was parliamentary reform, especially the expansion of the representation of working class people.

In common with the other corresponding societies its membership was predominantly drawn from artisans and working men: early members included Joseph Gerrald, Francis Place, Edward Marcus Despard, Maurice Margarot and Olaudah Equiano. The London Corresponding Society had affiliates in Manchester, Norwich, Sheffield and Stockport.

The society irritated the establishment with its opposition to the wars with France and was deeply infiltrated by spies. A British Convention of reform group leaders in Edinburgh organised by the Scottish Friends of the People society in October 1793 was broken up and a number of men were arrested and tried for sedition. The LCS representatives, Gerrald and Maragot, were sentenced to fourteen years transportation. John Frost received only six months for his sedition.[1] Undaunted, the remaining LCS leaders met with other reformist groups, including the Society for Constitutional Information, in 1794 to discuss a further national convention as well as producing a large number of pamphlets and periodicals.

Repression and decline

In May 1794 the government took more action: certain of the society leaders were arrested and Hardy, John Thelwall and John Horne Tooke were tried for treason in October, but were acquitted. The society was not quietened by these effortsand in 1795 there were a number of public meetings, including one near Copenhagen House attended by a few thousand people.[2] Also King George III's carriage was stoned as he went to open parliament. The government responded with the so-called Two Acts - an extension of the treason laws with the Treasonable Practices Act and also the repressive Seditious Meetings Act 1795; detention without trial had already been in force since 1794 when habeas corpus was suspended.

In March 1796 leading LCS men John Binns and John Gale Jones were arrested. In 1798 the society became increasingly split and in 1799 it and several other radical groups were declared illegal under the Corresponding Societies Act. The LCS effectively ended then, although it maintained a vague, informal existence for a little time after. But the ideas had an influence on the 19th century Reform Bills and on Chartism.

Many of the leading members were Deists, those who were against organized religion and believed that nature and reason were the only way to experience God.

Notice the EYE amongst the P&T above the Hangmans post. Symbolically this is a threat to the Power structures of the time. We can see a crown and staff strewn on the ground as well as Papal imagery, staff, pointy hat and crosses.

Also note the Cap that is seen so much on US coinage, surprisingly or not it shows up across the European theatre at the same time.

Revolutionary icon

Compare the sans-culotte on the left to the culotte-wearer on the right. Both wearing iconic Phrygian caps and tricolor cockades

In revolutionary France, the cap or bonnet rouge was first seen publicly in May 1790, at a festival in Troyes adorning a statue representing the nation, and at Lyon, on a lance carried by the goddess Libertas.[7] To this day the national emblem of France, Marianne, is shown wearing a Phrygian cap.[8]

In 1792, when Louis XVI was induced to sign a constitution, popular prints of the king were doctored to show him wearing the bonnet rouge.[9] The bust of Voltaire was crowned with the red bonnet of liberty after a performance of his Brutus at the Comédie-Française in March 1792. The spire of the cathedral in Strasbourg was crowned with a bonnet rouge in order to prevent it from being torn down in 1794.

By wearing the red Phrygian cap the Paris sans-culottes made their Revolutionary ardour and plebeian solidarity immediately recognizable. During the period of the Reign of Terror, the cap was adopted defensively even by those who might be denounced as moderates or aristocrats and were especially keen to advertise their adherence to the new regime.

The Coat of arms of Haiti, a country established by rebellious slaves, has a Phrygian cap on top of a palm tree.

The cap was also incorporated into the symbol of the late 18th century Irish revolutionary organisation the Society of the United Irishmen. The English Radicals of 1819 and 1820 often wore a white "cap of liberty" on public occasions.


During political tumult in France, chief executive Adolphe Thiers "had made any display of the Phrygian cap a punishable offense" (along with singing La Marseillaise and celebrating Bastille Day).[10] The ban was ended in 1870,[10] and by 1880 (as historian Philip Nord tells us), the political climate had changed, previous disapproval ended, and "revolutionary symbols—the cap, the holiday, the anthem--had become constituent parts of a national heritage consecrated by the state and embraced by the public."[10]

Use in American iconography

United States

A Phrygian cap on the Seal of the United States Senate.

The Phrygian cap has been used to symbolize liberty in numerous countries of the Americas. For example, starting in 1793 United States of America coinage frequently showed liberty wearing the cap or, on many 19th Century pieces, holding it on a Liberty Pole. The cap's last appearance on circulating coinage was the Walking Liberty Half Dollar, which was minted through 1947 (and reused on the current bullion American Silver Eagle). The U.S. Army has, since 1778, utilized a "War Office Seal" in which the motto "This We'll Defend" is displayed directly over a Phrygian cap on an upturned sword. It also appears on the state flags of West Virginia (as part of its official seal), New Jersey, and New York, as well as the official seal of the United States Senate, the state of Iowa, the state of North Carolina (as well as the arms of its Senate,[11]) and on the reverse side of the Seal of Virginia.

In 1854, when sculptor Thomas Crawford was preparing models for sculpture for the United States Capitol, Secretary of War Jefferson Davis (later to be the President of the Confederate States of America) insisted that a Phrygian cap not be included on a statue of Freedom on the grounds that, "American liberty is original and not the liberty of the freed slave". The cap was not included in the final bronze version that is now in the building.[12]


Jun 10, 2013 - 3:06am

We Buy Gold

Are the WE BUY GOLD shops that have sprung up in the past few years privately owned or not?

And how have they been doing with a declining price.

Spartacus Rex
Jun 10, 2013 - 3:43am

Getting Ready...For Yet Another Dump Perhaps?

Gee, I'm More Than Ready Too!

Spartacus Rex
Jun 10, 2013 - 3:49am
Spartacus Rex
Jun 10, 2013 - 3:59am
Jun 10, 2013 - 4:49am

very interesting

some of the German online stores still have their price updates on "autopilot", while others simply stopped updating since last night.

The interesting part is going to be whether the shops with the low price can source the physical metals from the wholesalers for these ridiculous prices.

I am tempted to lock in a mint box at these prices and then just wait a month to get delivery!

I am honestly wondering for how long refined and minted silver is going to be delivered to wholesalers for this much under production costs of the RAW silver!


for everybody in Europe: As of right now, you can get Silver Phils for 19,09€ per ounce at Stollberg, VAT included!!!!

Jun 10, 2013 - 6:50am

It's ok, we are watching you, but don't be afraid if you've...

...done nothing wrong!

Hague: Law-abiding Britons have nothing to fear from GCHQ

"Law-abiding" citizens have "nothing to fear" from the British intelligence services, the foreign secretary says.

William Hague said reports that the UK's eavesdropping centre GCHQ had circumvented the law to gather data on British citizens were "nonsense".

But he refused to confirm or deny claims GCHQ has had access to a US spy programme called Prism since June 2010.

Mr Hague confirmed he would give a statement to Parliament on the allegations on Monday.

The existence of the Prism system was disclosed in reports by the Guardian and the Washington Post.

It is said to give America's National Security Agency (NSA) and the FBI easy access to the systems of nine of the world's top internet companies, including Google, Facebook, Microsoft, Apple, Yahoo and Skype.

All deny giving the US government access to their servers.

The UK government has come under pressure to respond to allegations that Prism has allowed GCHQ to circumvent the formal legal process for obtaining personal material such as emails, photographs and videos, from internet companies based outside the UK.

Speaking on BBC One's Andrew Marr show, the foreign secretary declined to say whether or not he had personally authorised GCHQ to engage with Prism.


Green Lantern
Jun 10, 2013 - 7:11am


I agree with you in in principle that it is indeed our responsibility as citizens by the very definition of citizenship to uphold the constitution. The implementation of that principle is a much stickier course then writing of the principle. And by all means, anybody in a position to stop the craziness has a responsibility. But remember my previous post "Alistair", I wrote an immutable law that says "Power" must have an institution or a conduit to express itself. I won't take time to formerly support that point right now but I don't believe anybody can think of any exceptions. Also, the link on WW1 veterans says McArthur gassed the veterans who protested for bonus pay. The fact that they got paid, doesn't mitigate the tactics they used when they protested the bonus pay.

You write.

There may even be a worse case: you may have to fight when there is no hope of victory, because it is better to perish than to live as slaves. - Winston Churchill

Puck once wrote a post where he used a word to describe the use of platitudes to make an argument. Does anybody remember it? Yes, Puck was an intelligent, well-spoken individual and sorely missed. The Churchill quote plays right into that concept especially the last sentence I quoted above. It is telling you to be a martyr even when you don't have a chance in hell. Things looking bad? Blow yourself up. On many levels, I don't see that as profound other than his ability to put out. Personally, suicide or martyrdom is against my personal spiritual believe system. A crime. But that is a personal viewpoint and I accept others might feel different. Now if he said "In a worse case, make a plan, get together with others and then go for it" I might say hmmm ok.

This statement plays to the emotions and it gives a statement that one might accept and follow it's direction. That's how programming works. Appeal to the feeling part of an individual. Churchill was profound like Franklin. He also said "History will be kind to me for I intend to write it." because like many, he knew the art of creating pseudo-events which is the history of the main stream media. Napolean knew that art well and most of what we think of today is a fierce warrior is a product of his own imaginings.

AS much as I am a fan of many of America's founders, you will find platitude like this all over the place especially from Ben Franklin who I am also a fan of but there were those thought forms he put out into public circulation that leaned toward class separation.

Now do I think it's hopeless? No. Can we raise awareness? Certainly. isn't this what we do here? Does not our open sharing here a form of revolution? If information weren't threatening than wikileaks and the NSA story wouldn't mean anything. It might be more powerful than 10,000 men banging on the doors at the bilderberg camp yelling "Ya ain't gonna get your way?" Why? because you are yelling it loud. BTW, The American Revolution in many ways was started as a result of people congregating on the street to talk about the affairs of the day.

I'll mention Abe Lincoln here despite my awareness that he is despised and considered the worst president by some on this forum. I don't. And for all the things you can accuse him of, he was no dope. He knew the art of subtlety and a much more profound way of creating change was to do it in a way that nobody noticed. He was successful at working a cabinet, most who wanted his head. A man who can build consensus, whether in the direction of your interests or not, is no fool. Most are familiar with the story so I won't rehash it.

Now there are certainly moments in history when one man made a difference. It usually is not planned and a matter of serendipity. This was an image the world saw and became a very powerful symbol that is etched in the minds of billions. I don't think Snowden will have such an impact but time will tell.

Jun 10, 2013 - 7:12am

"Law-abiding" citizens have "nothing to fear"

It isn't enough to be law abiding though, is it William. (And that's putting aside who writes the laws, and whether the laws serve humanity or Big Brother).

What law did Hague himself break, when they decided to break the news of his 'hotel room-sharing' with a male colleague? He wasn't following orders somewhere along the way, and he was forcefully embarrassed. Since then he has been a good boy, as evidenced by his assurances that there is nothing to fear from TPTB, even though he himself fears them, and now does whatever he is told.

Jun 10, 2013 - 7:17am


Looks ready to test 20 and change again. Sold a big chunk this weekend for 5 dollar premiums and going to buy back at 20 with 2 dollar premiums. Should make 15-20 percent off the move and be able to add a free 10 oz bar to the stack. Hoping for a raid. :)

Jun 10, 2013 - 7:35am


Le Patron

In case you are not keeping up with modern US Slang, I thought a list might be helpful.

Crimex: The NY Comex exchange

COT: Commitment of Thieves

Banksters: Wall Street ATMs Paying Out Obscene Bonuses

Greedsters: TBTF TBTJ Bullion Banks Flushing Traders, Crimex
Rigging Selling Traitors and Undue Influencers
Holy Spinners: US Corrupt Politicians and Farcical Habitual
Black Robe Reapers: US Corrupt Judiciary and Plain Language
Blue Skies: USSA National Debt, USSA Fiscal Budget, Credit Card
Debt, Unemployment Lines, Household Debt, Credit Card
Rates, Banksters Fees and Workers Compensation
Double Dutch Bus: The Honorable Legal Profession Seeking Currency
At All Costs and full of Ethically Driven Shotgun Claim
Sharks: Self Interested Litigators with Clients Seen Coming and
Despicable Dispute-Resolution Licensed Monopolists
Smear Merchants: Main Stream Media Anchors profiting on Libel and
Gaucha Pundits: Communists profiting off Innocence and Harmless
Contradictions: Republican Party and Republic Restoration,
Democratic Party and Voter Fraud, Land of Free and
Totalitarian Government, and, Real Money and Paper Money
Monetary Inflation: Printing Presses, FED Balance Sheets and QE to
Price Inflation: Printing Presses, FED Balance Sheets, QE to
Infinity, Bullion Price Discovery, and USSA Employment
Currency Warriors: Paper Printers, Neighborhood Beggars, Currency
Manipulators, Trade Warriors, Domestic Subsidisers,
Deficit Spenders, National Debt Raisers and Bond Vigilantes.
Intrinsic Value: Gold Money, Silver Money, Constitutional Money,
Real Money and Labor Added Value Commodities Money
Inherent Value: IRS Tax Money, Paper Money, FRN Money, Evasion Jail
Time Money, Monopoly Money and Con Game Money
Commander in Chief: Totalitarian Socialistic Fascist Racist Golfing
Vacationing Farcical-Habitual-Campaigner
Fascists: Campaign Contributing Banksters, Undue Influencing
Greedsters, USSA Senate, USSA Commander in Chief, USSA
Judiciary, and United Socialistic States of America
Enforcers: Totalitarian Henchmen, MSM Pundits, Press Secretaries,
USSA Senate, Panzer Corps, Lock Down Wardens, USSA Police
State and DHS
Ponzi Coupons: Irredeemable Federal Reserve Notes

Taxpayer Gifts: ZIRP for Greedsters and QE for How Now Dow Cows

Fraudsters: Targeted Inflation Rate Banksters, Holy Spinners, Paper
Printing Banksters, and Naked Short Selling Greedsters
Honest Money: Freedom Fighters, Constitutional Money, and US Minted
Gold and Silver Coinage
Mouseketeers: US Governments Agencies, Justice, FED Bank, and CFTC

Totalitarians: USSA Government Administration, DNC and RNC

Totalitarian Tools: IRS RICO Thugs and FRN Paper Printers

Bullion Riggers: John Pierpont Manipulator and Hideous Sperpentine
Bozo Clowns

Puppeteers: Goldman Socks and Tinananmen Squares

Enslavers: IRS, RICO Thugs, Pick Pocketeers, Privacy Spies, Highway
Robbers, USSSA, USDA, Poor Entrappers, Circus Masters, and
Bread Throwers
Gold Bugs: Freedom Lovers, Turdites, Le Menu Readers, Austrian
Economists, Real Money Believers, Plain Language
Constitutionalists, Republic Restorers, Libertarians,
and Bonnie Blue Flag Waivers
Paper Pushers: Central Bank Currency Printers, Kenynesian
Economists and Debtor Prison Wardens
One Percenters: Greedsters and Banksters and Diamond Backed Snakes
and She Head Madusas
Ninety Nine Percenters: Tax Mules and State Dependents

Monsters: Freedom Fighters Locked and Loaded with 500 Rounds Each

Pump Machines: How Now Dow Cows, Paper Printers, and Feel Good Be
Happy Crowds
Printer Credits: TARP ZIPR and QE1 QE2 QE3 QE4 QE5 QE6 QE7 QE8 QE9
QE10 to QE-Infinity
Extend and Pretend: Green Shoots, Kick the Can, Robust Recovery,
USSA Manufacturing Dominance, QE-Infinity and USSA
Government Statistics
Employment: Participation Rate Participants, Couch Potatoes, Bench
Sitters, Part Timers and USSA Government Statistics
Real Rates: Real GNP Kaplop RORs and Bonds Real Valued Added RORs
and Saving Deposit Negative Interest Rates
Enlightened Electrorate: Ninety Nine Percenters, FRN Bond Holders,
FRN Savers, Stagnant Joe Six Packs, and Busted Moms and
MOPEd Dopes: USSA Statistics Believers, Enlightened Electrorate and
Foolish Economists
Extremists: Freedom Lovers, Gold Bugs, Freedom Fighters, Plain
Language Constitutionalists, Libertarians, and Old Glory
Gang of Four: WW and the Printers and Thugs, FDR and the Raw Deal,
LBJ and the Corrupt Society, and BHO and the Ponzi Scheme
Rat Race: One Percenters Hiding Loot Off Shore, Bahama Yacht
Sailing Greedsters, IRS Agents and FRN RICO Thugs
District Courts: Medical Malpractice Lotto Parlors and Illegal
Alien Swearing-In Chambers
Hue and Cry: Tax and Spend, Take and Give, Inflate and Rob,
Incentivize and Control, and Socialize and Corrupt
Slogan: Vote em Out or Take em Out, for a Free Lunch

Problems: Greed, Socialism, Totalitarianism, Fraud, Immigration, Fascism, Electioneering, Greed, Socialism, Totalitarianism, Fraud, Immigration, Fascism, Electioneering, Greed, Socialism, Totalitarianism, Fraud, Immigration, Fascism, Electioneering, Greed, Socialism, Totalitarianism, Fraud, Immigration, Fascism, Electioneering, Government, Government, Government, Government, Government, Government, Government, Government, and More-Government, To-Much-Government, and Way-To-Much Government.

Solutions: Abolish all Federal Social Programs, Federal Pay-and-Forget Sales Tax Exclusivity, State In-Rem Property Tax Exclusivity, Real Gold and Silver Coinage Money Exclusivity, Pay Off All Federal and State Present and Future Obligations with 100T FRNs, State Social Safety Nets, Out Law Federal and State Bonds, Out Law Federal and State Debt, Out Law Federal and State Fiscal Deficits, Abolish Paper Money, Abolish Federal Reserve Notes, Redeem FRNs at more than $1,000,000.00 per gold ounce, Abolish the Federal Reserve Bank, Reward Productivity, Penalize Unproductivity, Free the People From Government, and Restore the Republic.

President Ronald Reagan: "Tear Down This Wall"

President John F. Kennedy "Ask not what your country can do for you"


Ned Braden s1lverbullet
Jun 10, 2013 - 7:39am
DeaconBenjamin Bollocks
Jun 10, 2013 - 7:45am

They Thought They Were Free -- The Germans, 1933-45

Milton Mayer But Then It Was Too Late "What no one seemed to notice," said a colleague of mine, a philologist, "was the ever widening gap, after 1933, between the government and the people. Just think how very wide this gap was to begin with, here in Germany. And it became always wider. You know, it doesn’t make people close to their government to be told that this is a people’s government, a true democracy, or to be enrolled in civilian defense, or even to vote. All this has little, really nothing, to do with knowing one is governing. "What happened here was the gradual habituation of the people, little by little, to being governed by surprise; to receiving decisions deliberated in secret; to believing that the situation was so complicated that the government had to act on information which the people could not understand, or so dangerous that, even if the people could not understand it, it could not be released because of national security. And their sense of identification with Hitler, their trust in him, made it easier to widen this gap and reassured those who would otherwise have worried about it. "This separation of government from people, this widening of the gap, took place so gradually and so insensibly, each step disguised (perhaps not even intentionally) as a temporary emergency measure or associated with true patriotic allegiance or with real social purposes. And all the crises and reforms (real reforms, too) so occupied the people that they did not see the slow motion underneath, of the whole process of government growing remoter and remoter. "You will understand me when I say that my Middle High German was my life. It was all I cared about. I was a scholar, a specialist. Then, suddenly, I was plunged into all the new activity, as the university was drawn into the new situation; meetings, conferences, interviews, ceremonies, and, above all, papers to be filled out, reports, bibliographies, lists, questionnaires. And on top of that were the demands in the community, the things in which one had to, was ‘expected to’ participate that had not been there or had not been important before. It was all rigmarole, of course, but it consumed all one’s energies, coming on top of the work one really wanted to do. You can see how easy it was, then, not to think about fundamental things. One had no time." "Those," I said, "are the words of my friend the baker. ‘One had no time to think. There was so much going on.’" "Your friend the baker was right," said my colleague. "The dictatorship, and the whole process of its coming into being, was above all diverting. It provided an excuse not to think for people who did not want to think anyway. I do not speak of your ‘little men,’ your baker and so on; I speak of my colleagues and myself, learned men, mind you. Most of us did not want to think about fundamental things and never had. There was no need to. Nazism gave us some dreadful, fundamental things to think about—we were decent people—and kept us so busy with continuous changes and ‘crises’ and so fascinated, yes, fascinated, by the machinations of the ‘national enemies,’ without and within, that we had no time to think about these dreadful things that were growing, little by little, all around us. Unconsciously, I suppose, we were grateful. Who wants to think? "To live in this process is absolutely not to be able to notice it—please try to believe me—unless one has a much greater degree of political awareness, acuity, than most of us had ever had occasion to develop. Each step was so small, so inconsequential, so well explained or, on occasion, ‘regretted,’ that, unless one were detached from the whole process from the beginning, unless one understood what the whole thing was in principle, what all these ‘little measures’ that no ‘patriotic German’ could resent must some day lead to, one no more saw it developing from day to day than a farmer in his field sees the corn growing. One day it is over his head. "How is this to be avoided, among ordinary men, even highly educated ordinary men? Frankly, I do not know. I do not see, even now. Many, many times since it all happened I have pondered that pair of great maxims, Principiis obsta and Finem respice—‘Resist the beginnings’ and ‘Consider the end.’ But one must foresee the end in order to resist, or even see, the beginnings. One must foresee the end clearly and certainly and how is this to be done, by ordinary men or even by extraordinary men? Things might have. And everyone counts on that might. "Your ‘little men,’ your Nazi friends, were not against National Socialism in principle. Men like me, who were, are the greater offenders, not because we knew better (that would be too much to say) but because we sensed better. Pastor Niemöller spoke for the thousands and thousands of men like me when he spoke (too modestly of himself) and said that, when the Nazis attacked the Communists, he was a little uneasy, but, after all, he was not a Communist, and so he did nothing; and then they attacked the Socialists, and he was a little uneasier, but, still, he was not a Socialist, and he did nothing; and then the schools, the press, the Jews, and so on, and he was always uneasier, but still he did nothing. And then they attacked the Church, and he was a Churchman, and he did something—but then it was too late." "Yes," I said. "You see," my colleague went on, "one doesn’t see exactly where or how to move. Believe me, this is true. Each act, each occasion, is worse than the last, but only a little worse. You wait for the next and the next. You wait for one great shocking occasion, thinking that others, when such a shock comes, will join with you in resisting somehow. You don’t want to act, or even talk, alone; you don’t want to ‘go out of your way to make trouble.’ Why not?—Well, you are not in the habit of doing it. And it is not just fear, fear of standing alone, that restrains you; it is also genuine uncertainty. "Uncertainty is a very important factor, and, instead of decreasing as time goes on, it grows. Outside, in the streets, in the general community, ‘everyone’ is happy. One hears no protest, and certainly sees none. You know, in France or Italy there would be slogans against the government painted on walls and fences; in Germany, outside the great cities, perhaps, there is not even this. In the university community, in your own community, you speak privately to your colleagues, some of whom certainly feel as you do; but what do they say? They say, ‘It’s not so bad’ or ‘You’re seeing things’ or ‘You’re an alarmist.’ "And you are an alarmist. You are saying that this must lead to this, and you can’t prove it. These are the beginnings, yes; but how do you know for sure when you don’t know the end, and how do you know, or even surmise, the end? On the one hand, your enemies, the law, the regime, the Party, intimidate you. On the other, your colleagues pooh-pooh you as pessimistic or even neurotic. You are left with your close friends, who are, naturally, people who have always thought as you have. "But your friends are fewer now. Some have drifted off somewhere or submerged themselves in their work. You no longer see as many as you did at meetings or gatherings. Informal groups become smaller; attendance drops off in little organizations, and the organizations themselves wither. Now, in small gatherings of your oldest friends, you feel that you are talking to yourselves, that you are isolated from the reality of things. This weakens your confidence still further and serves as a further deterrent to—to what? It is clearer all the time that, if you are going to do anything, you must make an occasion to do it, and then you are obviously a troublemaker. So you wait, and you wait. "But the one great shocking occasion, when tens or hundreds or thousands will join with you, never comes. That’s the difficulty. If the last and worst act of the whole regime had come immediately after the first and smallest, thousands, yes, millions would have been sufficiently shocked—if, let us say, the gassing of the Jews in ’43 had come immediately after the ‘German Firm’ stickers on the windows of non-Jewish shops in ’33. But of course this isn’t the way it happens. In between come all the hundreds of little steps, some of them imperceptible, each of them preparing you not to be shocked by the next. Step C is not so much worse than Step B, and, if you did not make a stand at Step B, why should you at Step C? And so on to Step D. "And one day, too late, your principles, if you were ever sensible of them, all rush in upon you. The burden of self-deception has grown too heavy, and some minor incident, in my case my little boy, hardly more than a baby, saying ‘Jewish swine,’ collapses it all at once, and you see that everything, everything, has changed and changed completely under your nose. The world you live in—your nation, your people—is not the world you were born in at all. The forms are all there, all untouched, all reassuring, the houses, the shops, the jobs, the mealtimes, the visits, the concerts, the cinema, the holidays. But the spirit, which you never noticed because you made the lifelong mistake of identifying it with the forms, is changed. Now you live in a world of hate and fear, and the people who hate and fear do not even know it themselves; when everyone is transformed, no one is transformed. Now you live in a system which rules without responsibility even to God. The system itself could not have intended this in the beginning, but in order to sustain itself it was compelled to go all the way. "You have gone almost all the way yourself. Life is a continuing process, a flow, not a succession of acts and events at all. It has flowed to a new level, carrying you with it, without any effort on your part. On this new level you live, you have been living more comfortably every day, with new morals, new principles. You have accepted things you would not have accepted five years ago, a year ago, things that your father, even in Germany, could not have imagined. "Suddenly it all comes down, all at once. You see what you are, what you have done, or, more accurately, what you haven’t done (for that was all that was required of most of us: that we do nothing). You remember those early meetings of your department in the university when, if one had stood, others would have stood, perhaps, but no one stood. A small matter, a matter of hiring this man or that, and you hired this one rather than that. You remember everything now, and your heart breaks. Too late. You are compromised beyond repair. "What then? You must then shoot yourself. A few did. Or ‘adjust’ your principles. Many tried, and some, I suppose, succeeded; not I, however. Or learn to live the rest of your life with your shame. This last is the nearest there is, under the circumstances, to heroism: shame. Many Germans became this poor kind of hero, many more, I think, than the world knows or cares to know." I said nothing. I thought of nothing to say. "I can tell you," my colleague went on, "of a man in Leipzig, a judge. He was not a Nazi, except nominally, but he certainly wasn’t an anti-Nazi. He was just—a judge. In ’42 or ’43, early ’43, I think it was, a Jew was tried before him in a case involving, but only incidentally, relations with an ‘Aryan’ woman. This was ‘race injury,’ something the Party was especially anxious to punish. In the case at bar, however, the judge had the power to convict the man of a ‘nonracial’ offense and send him to an ordinary prison for a very long term, thus saving him from Party ‘processing’ which would have meant concentration camp or, more probably, deportation and death. But the man was innocent of the ‘nonracial’ charge, in the judge’s opinion, and so, as an honorable judge, he acquitted him. Of course, the Party seized the Jew as soon as he left the courtroom." "And the judge?" "Yes, the judge. He could not get the case off his conscience—a case, mind you, in which he had acquitted an innocent man. He thought that he should have convicted him and saved him from the Party, but how could he have convicted an innocent man? The thing preyed on him more and more, and he had to talk about it, first to his family, then to his friends, and then to acquaintances. (That’s how I heard about it.) After the ’44 Putsch they arrested him. After that, I don’t know." I said nothing. "Once the war began," my colleague continued, "resistance, protest, criticism, complaint, all carried with them a multiplied likelihood of the greatest punishment. Mere lack of enthusiasm, or failure to show it in public, was ‘defeatism.’ You assumed that there were lists of those who would be ‘dealt with’ later, after the victory. Goebbels was very clever here, too. He continually promised a ‘victory orgy’ to ‘take care of’ those who thought that their ‘treasonable attitude’ had escaped notice. And he meant it; that was not just propaganda. And that was enough to put an end to all uncertainty. "Once the war began, the government could do anything ‘necessary’ to win it; so it was with the ‘final solution of the Jewish problem,’ which the Nazis always talked about but never dared undertake, not even the Nazis, until war and its ‘necessities’ gave them the knowledge that they could get away with it. The people abroad who thought that war against Hitler would help the Jews were wrong. And the people in Germany who, once the war had begun, still thought of complaining, protesting, resisting, were betting on Germany’s losing the war. It was a long bet. Not many made it."

Jun 10, 2013 - 7:46am

Edward Snowden

US security officials said NSA leaker, journalist should be 'disappeared' – report


When asked for his reaction to the alleged comments that reporter Glenn Greenwald and the 29-year-old leaker himself should be "disappeared,"
Snowden told the newspaper:

"Someone responding to the story said 'real spies do not speak like that.' Well, I am a spy and that is how they talk. Whenever we had a debate in the office on how to handle crimes, they do not defend due process – they defend decisive action. They say it is better to kick someone out of a plane than let these people have a day in court. It is an authoritarian mindset in general."

Jun 10, 2013 - 7:47am


that way.

Nova Slang is now a masterpiece, with final brush strokes done. Apparently, JPM went long gold, 3 days after my Strike on the Evil Empire went public, and I gave JPM 10 days to go long silver, or its 20 years for the two bosses. Im nice that way. The editing of the attack plan editing into readable English is coming along nicely.

Jun 10, 2013 - 8:13am

"Law-abiding" isn't enough

The dirt collected will be used against Obama's political enemies, it was pretty clear from Snowden's video, law-abiding or not.

Perhaps this data will be used to decide what treatment you get at the hospital.

Jun 10, 2013 - 8:40am

we buy gold shops

from what i know.........ARE privately operated..........there are a few guys with multiple shops but not many.

an acquaintance owns one.....he SELLS to a local woman for 92% of spot............she takes a few % and sells/ships off to refiners..........she just weighs packages n ships in a small warehouse, picks it up herself[her very careful disguised guy]..............he has the retail bills and security headaches.

business has dropped off some...........probly not so much as the price of gold, but many of the people who would sell jewelry for melt have already DONE it.

for now, anyway...................future going to be a different story.

Jun 10, 2013 - 8:41am


quiet.....too quiet..rather discomforting

Jun 10, 2013 - 8:42am

(No subject)

Video unavailable
Jun 10, 2013 - 8:43am


I know what you mean... not having 2% crazy swings shows that something is very very wrong.

Jun 10, 2013 - 8:45am

re They thought they were free

You don’t want to act, or even talk, alone; you don’t want to ‘go out of your way to make trouble.’ Why not?—Well, you are not in the habit of doing it. And it is not just fear, fear of standing alone, that restrains you; it is also genuine uncertainty.

"Uncertainty is a very important factor, and, instead of decreasing as time goes on, it grows. Outside, in the streets, in the general community, ‘everyone’ is happy. One hears no protest, and certainly sees none.

What a powerful essay. And in it lies both despair and hope, and very relevant to 'what can we do' that isn't going to result in futile martyrdom.

The first part, once you start, isn't so bad - tell people what you are actually thinking, as much as possible, and don't lie to fit in. I know this sounds facile, but it is still fairly functional. Once you decide not to lie or steal, much of your decision-making gets a lot easier. Remember Bill Clinton not being able to remember his previous testimony? Had he been truthful, it might have been simple. And standing alone is better than standing with people you don't like.

But that is the despair part for me - people are so uncertain of themselves that they will change their opinion on whether the earth goes around the sun or the other way round - and I have seen the video evidence. So the onus lies on each individual to try to be honest and be a true, if polite and compassionate, mirror to the souls around one, while telling them calmly about sound money being a necessary precursor to honest government.

The hope comes from his sad statement that they heard no protest. The internet speaks loud and clear - and all that data they are mining speaks loud and clear - there are many, many people who can now communicate around the globe. It is more empowering than the invention of the printing press, when powerful individuals could control the flow of information. They are reading and watching ... but we are doing the talking.

Freedom's Peach!


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Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

Key Economic Events Week of 4/29

4/29 8:30 ET Pers Inc, Cons Spend, Core Infl
4/30 8:30 ET Employment Costs
4/30 9:45 ET Chicago PMI
5/1 8:15 ET ADP jobs report
5/1 9:45 & 10:00 ET Markit and ISM Manu PMIs
5/1 10:00 ET Construction Spending
5/1 2:00 ET FOMC Fedlines
5/1 2:30 ET CGP presser
5/2 8:30 ET Productivity and Unit Labor Costs
5/2 10:00 ET Factory Orders
5/3 8:30 ET BLSBS
5/3 9:45 & 10:00 ET Markit and ISMServices PMIs

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