Considering Chinese Demand

Thu, Jun 13, 2013 - 1:36pm

It's one of those things. You hear about it every day but never stop to really think about it.

This began as an email discussion with my friend, Ned, yesterday. All of us in Turdville are aware that the Shanghai Gold Exchange has physically delivered something like 1200 metric tonnes of gold, year to date. That's a staggering number and it far exceeds the amount delivered through London and dwarfs the level delivered through the Comex. Prior to yesterday, I looked at that number and thought, "Wow. That's a lot.", but I never stopped to ask the follow-up questions:

  1. To whom is this being delivered? AND
  2. Once it's delivered, where does it go next?

Let's start by looking at this handy chart. Note that, at this current pace of delivery, Shanghai is currently delivering each month the entire global mine supply. No wonder they were temporarily "out of stock" back in May! How long can this continue?

OK, now for some additional background. Recall that, since about 2006, the Chinese government has been aggressively promoting gold buying by its citizens. This campaign really began to pick up steam in 2009 following The Great Western Financial Crisis. A quick Google search returns all sorts of articles which describe this policy. Here are just a few examples: gold-analysis?oid=88452&sn=Detail & & &

We also know that officially reported Chinese imports are soaring. In just the first four months of this year, China has imported through Hong Kong nearly 500 metric tonnes of gold. This adds to the 834 metric tonnes that they imported in calendar year 2012.

(Charts courtesy of ZH)

So where is all this gold going? I first wrote about it nearly a year ago. Much of it is being recast into kilo bars that, I believe, will ultimately be used to provide a hard asset backing to a future Yuan.

But that still doesn't explain the almost-daily, 15-25 metric tonnes of physical delivery in Shanghai. This is why Ned and I were so perplexed.

So, next, I did what any sensible person would do, I rang up Andrew Maguire. His decades of experience in working the international wholesale market makes him the best source I have for answers to these questions. The conversation went something like this:

Me: "Andy, where the heck is all this gold going?"

Andy: "It's not going anywhere."

Me: "What do you mean?"

Andy: "I mean exactly that. Shanghai settles all that bullion each day to domestic wholesalers. That metal is then shipped off to Chinese dealers and refiners for domestic consumption."

Me: "So wait a minute. You're telling me that public demand in China is currently soaking up 250 metric tonnes per month or nearly ALL of the publicly-reported global mine supply?"

Andy: "Exactly."

And then I started thinking...Well how hard would that be to do? 250 metric tonnes is about 8,000,000 troy ounces. The current population of China is 1.344 billion. If only 25% of the population is taking their government up on the idea of gold ownership, that's 336,000,000 people or, roughly, an amount equivalent to the entire population of the United States!

So now let's say that these 336,000,000 people buy, on average, 1/40th of an ounce every month. That works out to be about 3/4 of a gram or about $35 worth at $1400/ounce. Working the math backward we get: 336,000,000 people buying .75 grams = 252,000,000 grams and 252,000,000 grams = 252 metric tonnes.

Hmmm. Well how about that? Makes you look at stories like this in a different light, doesn't it?

A crowd of customers waits in front of a gold store to shop during a promotion, in Jinan city, East China’s Shandong province on June 11, 2013.

People crowding around a gold products counter jockey for position to pick up something in a gold store which sold its products at a price of 299 yuan per gram in a promotion – about 50 to 70 yuan lower than the normal level, in Jinan city, East China's Shandong province on June 11, 2013. The promotion attracted nearly 10,000 people who rushed to the store despite restricting each customer's shopping time to 15 minutes. While gold markets in the US and Europe saw panic selling, China has just seen a surge in gold sales in the past few months. Chinese households came under the spotlight with their generous purchase of the gold products amid a global fall of the gold price.

OK, then. So, do you still think that the Spec Shorts are on the right side of the trade, that price is going lower and that the "bull market" in gold is over???

Hmmmm. Chew in that over the weekend and then come back for more on Monday. It's going to be another interesting week.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jun 15, 2013 - 11:47pm

Armstrong vs Santa - both are partially right

Armstrong was spot on about a society becoming hopeless once reaching the spying own citizens stage but his dismissing of hyperinflation is not that sound. Once you have an economy that produces little you will get shortage that always leads to inflation, and we sure as heck have a production-less economy in US. Uncle Sam is getting away with it for now merely b/c US$ is still globally accepted, which is subjected to change, so an inflation shock is inevitable. We can debate if it's going to be a "HYPER" one but it's inevitable.

And that's also why I never fully bought into Santa's gold revaluation theory. No matter how you revalue the gold to fix the national balance you are not gonna instantly turn an economy specialized in consumption and borrowing into a prudent one good at producing and saving. It ain't like flipping a switch. Not that easy. We have some enduring pain coming in the next several years.

Spartacus Rex jaw777
Jun 16, 2013 - 12:00am

@ jaw777- Damn

Yeah, well YOU go tell that to Mama BEAR then! Won't be hard to track her down either. Just find the cabbie who had his suspension TOTALED!

Jun 16, 2013 - 12:01am

@ GuerrillaCapitalist

Sincere thanks for sharing your thoughts.

What about landing? Someone must needs accept you, else wise you'll be returned to your point of origin, or worse... .

Spartacus Rex
Jun 16, 2013 - 12:05am

By the Numbers for the Week Ending June 14

Friday, June 14, 2013

By the Numbers for the Week Ending June 14

This week’s closing table is just below.

Posted by Gene Arensberg at 09:04:11 PM in Got Gold Blog - See more at:

Jun 16, 2013 - 12:05am


for axis and allies play, ready!!! Lets rock!!!

Neil Young - Rockin' In The Free World
Spartacus Rex
Jun 16, 2013 - 12:14am

Inside Bilderberg...

Inside Bilderberg: Clues left in the Grove Hotel reveal another piece to their financial agenda 21st Century Wire says…

As the dust had settled from Bilderberg’s global weekender held at The Grove Hotel in Watford, England, some members of the alternative media stayed on site continuing to dig for answers…

Investigative journalists from the UK Column, American Free Press and Sovereign Independentaccidentally wandered into a presentation suite at the Grove – only discover the remnants of a presentation by Thomson Reuters which Bilderberg organisers had neglected to take down after the event. It read “”unleashing the power of our unified platform on financial markets”.

Of course this reminds us of a similar international cartel , or syndicate called LIBOR, where bankers successfully gamed global interest rates enabling them to reap easy billions at the expense of the lower classes. Money for nothing. They did so with impunity, all but laughing in public at any attempt to bring any of the gold collar criminals to book for financial fraud and racketeering.

It’s no coincidence that LIBOR’s biggest inside player was also in attendance at Bilderberg 2013. The teflon banker himself – the elusiveMarcus Agius, the former Group Chairman of Barclays, and chairman of the British Bankers Association (BBA). It’s worth pointing that LIBOR’s rate scam was being calculated and published by Thomson Reuters on behalf of the BBA.

Only days after, events on the news wires – of international banking tycoon gaming the world’s currency markets – provided the connection to this topic discussed behind closed doors between members of the global industrial and political elite.

Decide for yourself…
A New Financial Scandal – Bigger Than LIBOR?

Mike Robinson
UK Column

Last Monday, our Malcolm Massey, Neil Foster and Mark Anderson took a post-Bilderberg walk around the Grove Hotel to see what they could see. What they found was a meeting room with a Thomson Reuters display panel.

The display panel with Thomson Reuters logo clearly marked was entitled “unleashing the power of our unified platform on financial markets”.

A Bilderberg Agenda Item?

PHOTO: UK Column found Thomson Reuters boards still up from Bilderberg.

Why would Thomson Reuters advertise to Bilderberg Attendees? It is easy to see that Reuters would do so at a financial event for City of London traders or casino bank managers, but politicians and industrialists? How likely is it that the attending bankers were not already aware of the implications of Reuters trading platforms?

Was this just an advertisement, or were Reuters running some kind of presentation? Those who saw the room first hand certainly left with the opinion Reuters had given a presentation of some kind.

If that is the case, then the question becomes what is meant by “unleashing the power … on financial markets?

Perhaps some news released by Bloomberg yesterday gives a clue what happens when Reuters trading platform is unleashed on financial markets, for we seem to have yet another global manipulation scandal on our hands, possibly even more significant than LIBOR.

Bloomberg reported yesterday that five whistleblowers who have been working as foreign exchange traders have stated that the $5 trillion foreign exchange market is rigged. They allege that the world’s biggest banks have been systematically manipulating the foreign exchange rates used to set the value of trillions of dollars of investments and derivatives. The main target of this has been pension funds all over the world.

Not surprisingly the centre of this activity has been the City of London, just as with LIBOR.

The traders told Bloomberg that the banks were actively trading against their clients by making use of a 60 second window in which trading is supposed to be paused. The traders told Bloomberg that, “dealers colluded with counterparties to boost chances of moving the rates.”

The Financial Conduct Authority, one of the bodies set up to replace the Financial Services Authority, says it is investigating and is speaking to the relevant parties.

Which platform is used to distribute the Foreign Exchange rates? None other than Thompson Reuters, as with LIBOR. The same Thompson Reuters which took part in Bilderberg.

Watch this episode of the UK Column Live below, as Mike and Brian break down the latest international financial coup d’état:

(Edit: Note if Video doesn't appear, click link & go to website. S.R.)

JUNE 14, 2013 BY 21WIRE

Spartacus Rex
Jun 16, 2013 - 12:18am

Trans Pacific Partnership & RIMPAC:

Is The Pivot To Asia About Corporate Control? By Shawn Helton

21st Century Wire

The People’s Liberation Army Navy (PLA Navy) will participate in the U.S. led ‘Rim of the Pacific’ or (RIMPAC), a biennial naval exercise that the U.S. Navy is set to conduct in the South Pacific in the spring of 2014.

Not surprisingly, this has opened up a fire storm of controversy for the Obama administration and the Pentagon, raising important questions about security and the nature of shared military drills with other countries.

In order to understand why the U.S. would advocate sharing sensitive naval strategies in RIMPAC, we’re reminded of the many growing global partnerships seeking to expand their financial influence.

The Trans Pacific Partnership or (TPP) is the Pacific regional trade partnership that seems to be at the center of countries involved in RIMPAC, specifically China, New Zealand and the U.S. The original TPP agreement emerged between Brunei, Chile, New Zealand and Singapore in June of 2005. Several other countries including Canada and Mexico are also active participants in this agreement.

Some suggest that U.S. involvement in TPP exposes a motive to contain China’s meteoric rise by stalling growth through strict regulations. Conversely, there have also been claims that New Zealand and China, are looking to slow or even reduce U.S. trade. This may have credence, as the U.S. has suddenly reestablished a relationship with New Zealand through TPP and RIMPAC over the last few years. However, others see a much darker side to the TPP and its multilateral agreements which allows governments to appeal regulations overriding rule of law in the name of corporate interests. Could the U.S. be giving up military insight to stay relevant economically, or is there something bigger at work here regarding consolidation? China, the world’s largest economy, looking to find new avenues of growth, has been in the process of sealing up a significant trade plans with New Zealand under TPP. Both are pushing to eclipse U.S. exports as world trade grows. Lori Wallach of watchdog group, had this to say about the TPP agreement:

This is an agreement that ultimately could have the whole world in it as a set of binding corporate guarantees with new rights and privileges enforced with cash sanctions and trade sanctions. It is not an exaggeration to say that the TPP, threatens to become a regime of binding global governance.”

Modern Trade Wars

Just as China has been making deep connections in trade partnerships in the Pacific, it has also been trying to ensure energy gains in the Middle East. The Chinese oil barons have a lot to lose when it comes to the deliberate destabilization of the Mid East at the hands of the West. This is of no small significance when you consider Mid East oil trade has given China additional access to a third of the Syrian Petroleum Company’s oil through its consortium China National Petroleum Company. Oil pipelines in Iran, Iraq and Syria, have all been embroiled in direct conflict or proxy conflict aided by the U.S. and its Western interventionist allies.

The proxy war in Syria is in large part consumed with interests in Mid East oil, just as the Iraq war was a decade ago. This card was revealed by the E.U. when they lifted the oil embargo against Syria as recently as last month, giving way, for rebels to seize control over oil trade in Syria and ultimately cementing a trade partnership with the Western nations and rebel terror networks.

How will the Mid East oil play impact Chinese – U.S. relations regarding the Trans Pacific Partnership?

In a recent article for Global Research Nile Bowie provides deeper insight into what TPP has come to be:

“Six hundred US corporate advisors have negotiated and had input into the TPP, and the proposed draft text has not been made available to the public, the press or policymakers. The level of secrecy surrounding the agreements is unparalleled – paramilitary teams scatter outside the premise of each round of discussions while helicopters loom overhead – media outlets impose a near-total blackout of reportage on the subject and US Senator Ron Wyden, the Chair of the Congressional Committee with jurisdiction over TPP, was denied access to the negotiation texts. “The majority of Congress is being kept in the dark as to the substance of the TPP negotiations, while representatives of U.S. corporations — like Halliburton, Chevron, PhaRMA, Comcast and the Motion Picture Association of America — are being consulted and made privy to details of the agreement,” said Wyden, in a floor statement to Congress.”

The connection between conflict and world trade appears to be very real.

As we examine the role of trade partnerships like the Trans Atlantic Union and the Trans Pacific Partnership we see more than just trade talks developing. Could these trade partnerships hold the key to understanding why the U.S. is willing to share naval strategies with China?

The “Pivot to Asia” seems to be more global governance rhetoric, disguising intentions to consolidate sovereignty?

The world has become a prison of asymmetrical war, resource grabbing and corporate controllers.

( Again if the video doesn't load clink link and watch it at the website. S.R.)
Jun 16, 2013 - 12:21am


think its just boys in the showing having a macho man sword fight for domestic consumption. The real driven is energy into Western Europe, and gold and dollar trade, and Iranian blockade.

Syria is just play time in the tube, with toy boats, and toy planes, for naked imagings, those guys.

XTC - Generals and Majors

and she did not even get a cameo!

Spartacus Rex
Jun 16, 2013 - 12:23am

‘Stop Watching Us’

Mozilla’s Attempt To Stop NSA’s intrusive Surveillance Alexis Kleinman

The Huffington Post

Mozilla, the creator of the web browser Firefox, has taken the lead on a protest against government surveillance. With a new website, StopWatching.Us, Mozilla asks people to sign a petition requesting that Congress immediately put an end the Internet surveillance program codenamed PRISM and any other Internet surveillance. The petition has over 27,000 signatures so far.

The Mozilla Foundation, a California-based nonprofit, was not one of the nine companies, which include Facebook, Apple, and Google, from which the U.S. government was recently found to be collecting data through PRISM. Most of those companies have denied that they were aware of the government’s surveillance and denied that they gave federal agents unfettered access to their servers.

StopWatching.Us contains a petition, in the form of a letter to Congress, that Mozilla is asking people, organizations and businesses to sign. So far, 83 organizations, including Reddit, have signed the petition, TechCrunch reports. An excerpt from the letter lays out exactly what Mozilla wants from Congress:

We call on Congress to immediately and publicly:

1. Enact reform this Congress to Section 215 of the USA PATRIOT Act, the state secrets privilege, and the FISA Amendments Act to make clear that blanket surveillance of the Internet activity and phone records of any person residing in the U.S. is prohibited by law and that violations can be reviewed in adversarial proceedings before a public court;

2. Create a special committee to investigate, report, and reveal to the public the extent of this domestic spying. This committee should create specific recommendations for legal and regulatory reform to end unconstitutional surveillance;

3. Hold accountable those public officials who are found to be responsible for this unconstitutional surveillance.

StopWatching.Us’s organizers have been sending emails regarding PRISM to Congress, but fear that the emails are not being read. In a call Mozilla organized on Tuesday, the Electronic Frontier Foundation’s activism director Rainey Reitman announced that StopWatching.Us and the EFF are working to organize a day for people to call their representatives, Ars Technica reports. “Sometimes those thousands upon thousands of e-mails can fall on deaf inboxes,” Reitman said.

Mozilla’s browser Firefox has an estimated 450 million users worldwide, so if even a fraction of Firefox users in the U.S. signed the petition it could get some attention from Congress.

As Mozilla points out in a blog post, Internet companies and individuals have proven to have a good deal of power in these types of situations. Over 7,000 websites protested against anti-piracy bills SOPA and PIPA in January 2012 by going dark or posting information about the harms these bills could cause, while hundreds of thousands of people contacted their government representatives. Both of those bills were stopped.

Google, with its popular Chrome browser, is also one of Mozilla’s biggest competitors. Chrome has an estimated 750 million users. Perhaps Google’s involvement in the scandal will give Chrome users pause. Google has taken strides to distance itself from PRISM in the media.

Mozilla’s head of privacy and public policy, Alex Fowler, touted Firefox’s tools that combat data tracking in a blog post on Tuesday. Add-ons like Do Not Track allow the user to tell websites that he or she would like to opt-out of third-party tracking. When that tracking is done by the government, rather than private organizations, however, all bets are off.

Green Lantern
Jun 16, 2013 - 12:23am

To use Germany as a retort to

To use Germany as a retort to what Armstrong is conveying doesn't hold any weight.

To use Zimbabwe as a retort to what Armstrong is saying does not hold any weight

Why because you say so?

You making an unsupported postulate against a supported postulate holds less weight.

I didn't use Zimbabwe as an example specifically because you used the same excuse last time to suggest that a 2,200,000%increase in inflation wasn't a hyperinflation because you had a friend close to the situation and therefore you knew better. That's why I chose France. Raise your hand if you don't think that a 2,200,00% inflation rate should be called a hyperinflation no matter the reasons it happened.

I could have chosen China in 1948 when they went back on gold and silver standard, and their highest denomination was 180,000,000 yuan.

I could have used Angola, Peru, Poland, Argentina and any number of countries where inflation surged thousands of percent. What do YOU call it when a money supply grows by an expotentional rate in a short time? BLOATING? But if you continue to use Armstrong's logic that it doesn't count because you say so, than I don't wanna play with you anymore.

The end of a species, and germany wasn't a grown up country, and then randomly throwing in the Russian Revolution and summarizing your prediction by saying the US is gonna fall into a black hole well, there ain't much you can say against an incoherent and very emotionally charged article. I'm unfamiliar with economies falling into black holes. Maybe a Star Gate.

I'm going to do what my high school Phys. Ed teacher did when we were kids and we got in a fight, give Armstrong a pair of gloves and Sinclair a pair of boxing gloves and let them go at it on the field instead of using their columns to spar with one another when they should be educating investors.

Jun 16, 2013 - 12:24am

Seriously, a giant explosion

Seriously, a giant explosion in Midtown Manhattan, and zero news in the MSM?

Look who are the ones reporting it:

Spartacus Rex
Jun 16, 2013 - 12:25am

No Evidence: ‘Obama does a Bush’ ...

to get No-Fly Zone and war in Syria JUNE 15, 2013 BY 21WIRE 21st Century Wire says…

No evidence of WMDs… and still a call for war? Again?

This sounds all too familiar. The Bush Administration did the exact same thing in Iraq. There was no evidence then, other than fabricated sexed-up intelligence. The same is true today.

Obama’s famous ‘red line’ on chemical weapons was never red, it was always pink.

This website, along with many others, has already shown its readers who is staging chemical weapons events in Syria and why. The evidence is very clear to see, yet the White House spin doctor and paid foreign policy hack Ben Rhodes has drafted the shape-shifting language for the White House in order to give the appearance legality in this case.

Will Obama sell truth and justice down the river Styx again? It’s looks like that is exactly what is happening now, as the White House is desperate to meet their summer time-table to attack and over throw the government in the sovereign national of Syria.

Whether it’s running guns and weapons into Syria or US and NATO soldiers (many already positioned around Syria’s borders), or implementing a “No Fly Zone” and bombing the country back to 1960, as was the case with Libya two years ago, the trifecta of the US, Great Britain and France (with Israel and Turkey hiding in the shadows) are determined to destroy Syria and increase the overall instability in the region – in order to better control and dominate it economically. If you still think they’re doing it for humanitarian reasons, then you are either an intellectual accomplice to political fraud, or you’ve simply bought into the lies… again.

Barack Obama’s war hawk line is much worse than even George Bush Jr’s fraudulent line was back in 2003, because in 2013, even the UN has already given its assessment that it was in fact those US and Saudi/Qatari-backed terrorist ‘rebels’ fighters – many professional foreign fighters working in Syria under the al Qaeda banner – who have been caught red-handed using a type of chemical weapon on the Syrian people – and not Bashar al Assad’s government forces.

So where do the lies end and the truth begin with this administration in Washington? It’s so hard to tell right now, as telling the truth has become a taboo practice these days in Washington.

This is exactly what happens when you give corrupt lawyers the keys to the castle. So, so many scandals with this White House, but every single one they claim is “legal”.

It’s clearer than ever now that the corruption in Washington is as foul as ever, and US President Barack Obama feels he has to empower his own Karl Rove-like surrogate to sell the same deception upon the people of America and the world, in order position themselves better for a confrontation with Iran in 2016.

Another pathetic President being used as a minion and tool of the global energy and defense industries and a pawn of the Israeli lobby running Washington’s foreign policy – and another sad day in the 21st century history of the United States of America.

If there are any Democrats with brains and integrity, and any GOP supporters who are able to see through career criminals shilling for war at every turn, criminal like Hillary Clinton and Obama ‘family friend’ like John McCain – now is your defining moment. Now is the time to burn your party colours and make your voice known to others.

The Syrian war is a fraud perpetrated by politicians criminal opportunists in the west.

We call it like we see it.

Green Lantern tmosley
Jun 16, 2013 - 12:30am

Seriously, a giant explosion

Seriously, a giant explosion in Midtown Manhattan, and zero news in the MSM?

Look who are the ones reporting it:

A man hole cover exploded. Happens occasionally. The rats in New York are growing bigger and sometimes need to come up for air.

Spartacus Rex
Jun 16, 2013 - 12:35am

Chris Matthews and MSNBC...

Chris Matthews and MSNBC: The Toilet Bowl of Broadcast Journalism MAY 8, 2013 BY 21WIRE 5 COMMENTS

Network calls gun advocates of being ‘racist’ and unable to accept an ‘African-American President’

21st Century Wire

The BBC has its share of critics, and rightfully so, as any multi-billion dollar state-run media outlet should expect to. Their status as protector of the government line is not a surprise to anyone because their state-run status is out in the open.

Most will recall the depths that FOX News sunk to during the Bush years, a proxy Neoconservative network openly promoting everything illegal and unconstitutional, and regularly employing the highest paid talking heads like Bill O’Reilly and Ann Coulter to shout down any critics of the Bush Administration, or the illegal wars that were launched during those years. It was a low point in American broadcast journalism. To any critical thinker, it made your stomach turn. It made many lose their trust in big media.

Since then, FOX has been usurped by another US network which currently masquerades as a private media outlet, but only in name. MSNBC has become the White House’s own private broadcaster.

MSNBC ‘Race-Baiting’

Since Obama was sworn into office, MSNBC has regularly pulled the race card as a way of forcing polarity into any political discussion where the White House might be criticized. From a journalist perspective, this is more than just bending the rules, it’s going all in for inciting the audience. Hardball host Chris Matthews said on air this week that gun rights activists “don’t accept an African-American president”. Here we get a clear view, along with the stench of that toilet bowl we mentioned earlier.

Watch Matthews recent race baiting VIDEO here

Matthews’s comments are not the first, and won’t be the last of that type. The White House and the network are in perfect sync, and both employ very orthodox Saul Alinsky methods when it comes to dividing and subdividing American society into easy to manipulate social compartments.

MSNBC openly pushes a White House social agenda, with talking points that are perfectly streamlined with the Administration, and making no attempt to hide it, which should tell viewers much about their relationship with government.

MSNBC is now staffed top to bottom with most of Bill Clinton and Barack Obama’s top advisors including George Stephanopoulos, David Axelrod and Robert Gibbs. It’s job is to protect and promote the White House’s agenda(s). Either with Martin Bashir, Rachel Maddow, the Reverend Al Sharpton (pundits are still wondering why he was given his own show on a national network), or channel’s highest paid non-talent, Chris Matthews, or other minor players like Krystal Ball andMelissa Harris-Perry - everyone marches to the beat of the Democratic Party’s social engineers.

The channel even uses the same strap lines the Obama campaign used in their “Lean Forward” series where all of MSNBC’s pundits are filmed on location – speaking in political ‘dreamscaping’ mode, using sophisticated NLP language to frame their political argument, and then padding this with mostly made-up on-the-fly rhetoric, all in order to nudge along a vapid socialist, or state-run economic agenda the White House is pushing – green energy, giving your children over to the ‘collective’, expanding entitlements, or marketing gay marriage to children.

To watch the Lean Forward series of political adverts produced by MSNBC is not much different from watching an impressive but very blunt Leni Riefenstahl, or Albert Speer production for the Third Reich. Like Riefenstahl and Speer, all these MSNBC presenters have made a conscious choice to become a party member in order to move their careers along.

For Matthews, it might appear to be a risk-free, easy call to pull the race card – especially if he believes he’s a classic liberal defender of minorities in America – taking the ultra-liberal patronage position as a middle-aged white man as defender of all things African-American. So why would such a high-profile broadcaster come out and accuse opponents of gun control as being racist? It’s so far off base, that one can only conclude what many have long suspected – that Chris Matthews and MSNBC have made history – and now embody the filthiest end of mainstream broadcast journalism.

Matthews is no stranger to controversy, including those who have accused him of regularly of turning up drunk on air. Apparently, he’s not enough of an embarrassment for the network to let him go yet. With that in mind, watch this rather embarrassing clip:

[ Edit If video doesn't load, go to website. S.R.]
MSNBC are constantly repeat the same mantra, “This country is divided…”, never taking a second to look at their crucial role in making the phenomenon of division even more chronic. Never has a White House so embedded itself in an American TV network – a move that appears to have been welcomed by MSNBC, America’s first ever state-run media outlet.

The used to be a sense of decorum, and integrity with American broadcast journalists, even a sense of objectivity. That has all but disappeared in today’s American media, where taking sides and pushing party politics has replaced any high standards which used to exist…

Chris Matthews calls gun control opponents racists


MSNBC’s prodigal son has once again come “forward” to display the vitriol that has become the standard of journalism for US state-run television.

Labeling those who don’t want to criminalize the private transfer of firearms, also known as “universal” background checks, as racists, MSNBC host Chris Matthews has again proven the debate surrounding the infringement of the 2nd Amendment revolves around personal attacks and character assassinations, rather than reason and reality.

Despite the fact most who cherish the right to bear arms see it as the amendment central to preserving all the others and have been fighting for its preservation long before Obama was even a twinkle in his father’s eye, Matthews blanketed all advocates of firearms freedom, free from government intrusion, as having hate for the African-American president that currently resides at the White House, just because he’s African-American.

Matthews, Monday night:

To everybody watching, this isn’t just about guns — is about guns. It is about this war in this country, that’s gotten more divided, more polarized. And it’s about symbols like telling you you can’t have certain kinds of gun. You need certain kinds of freedoms with your gun, like no background checks. Or that you have an African-American president.

Now, here’s an example, the birther thing. It all ties together. You have to explain to me how they see the overlap of birtherism and guns, because I see it. Here’s the new NRA president, Jim Porter. He also doesn’t sound like he’s willing to go in that middle line there across the aisle. Last year he made a speech not only referring to Civil War as the war of northern aggression, here we go again, but also invoked birther language. Now, I missed this last week. Birther language. Watch him here talk about our fake president.


JAMES “JIM” W. PORTER II, NRA PRESIDENT: The NRA was started 1871 right here in New York state. It was started by some Yankee generals who didn’t like the way my Southern boys had the ability to shoot, what we called the war of Northern aggression. Y’all might call it the Civil War, but we call it the war of Northern aggression down South.

I get so sick and tired of all these people with this fake president that we got who wants to say, ‘Well, you know, he hasn’t done anything bad for gun owners.’ I say, let me tell you something bad he’s done. His entire administration is anti-gun, anti-freedom, anti-second amendment.


MATTHEWS: I don’t know if he’s burning books there or not. Let me tell you, Kasie [Hunt], it’s a lot that lays on your shoulders. I have to tell you this. I see a far bigger fight than over background checks and gun shows. It’s culture war. They don’t accept an African-American president or president of color who has some antecedence in Africa. No. It has to be us or him. And our guns or him. And everything is totemic; everything is iconic; everything’s fighting words. What was it feeling like down there? Didn’t they react when they hear this kind of talk?
Jun 16, 2013 - 12:36am

GL: The links claimed that


The links claimed that cars were on fire, which sounds larger than a manhole exploding (which happens from built up gasses meeting an ignition source). The picture seemed to show an outsized response as well.

But maybe not. I don't live in NY. I know if something like that happened in Lubbock, it would at least make the local news and be internet searchable.

Mr. Fix
Jun 16, 2013 - 12:40am

An explosion in Manhattan

that's not terribly unusual, its infrastructure is decrypted, and those rats that Green Lantern mentioned occasionally chew through the wrong wire and blowup themselves and a few transformers.

The only curious thing is why do you have to watch Russian news to find out about it?

I think this paints a fairly vivid picture of exactly how captured the mainstream media is,

in that they have not yet been told what to say, are so afraid of saying the wrong thing, they have chosen to say nothing at all. Apparently, Russian reporters do not have those constraints.

Jun 16, 2013 - 12:40am

@Green Lantern

In 1948, China was enjoying a civil war. Communists were fighting nationalists. The nationalists had to print to finance the war, which caused the hyperinflation.


Jun 16, 2013 - 12:41am


..."flyover country" fully understands that a transformer explosion isn't really a very big deal.

Seriously, what thinking person would presume that anyone should give a rat's fucking ass if a transformer explodes in the pretentious, "god-help-us", unthinking, irreverent, morally and mentally vacant, spineless east coast?

Would-to-God more r-tards had more reason to consider, and understand, the reality of life that surrounds us.

Green Lantern tmosley
Jun 16, 2013 - 12:42am


It was on the local news earlier this evening and it's on all the local news channels websites. They do get bad sometimes where they have to evacuate alot of people. But this one not so much. The language in the link you provided was a bit exaggerated. Not your fault and I would have thought the same thing.


A transformer explosion and fire rocked Midtown Manhattan Saturday night. It happened about 9:40 p.m. at 50th St. and 2nd Ave.

A car that was parked above the manhole caught fire but no one was hurt.

Witnesses told Fox 5 News that a nearby building shook shook from the blast.

According to the FDNY, there are no reports of injuries.

Fire officials and Con Ed were investigating the fire.

Read more:

Spartacus Rex
Jun 16, 2013 - 12:43am


Elite Traders Are Getting Access To Data Before Everyone Else LINETTE LOPEZ JUN. 13, 2013, 12:41 PM

In the past few days people have finally started paying attention to a funny thing going on in the market.

Time after time ahead of major news, there seems to be someone who knows something before it happens — there seem to be trades that hit too hard and fast before the news is actually made.

This has been going on for a while, and people are finally starting to understand why.

The current target of collective ire is Thomson Reuters. There was some shady trading ahead of the Consumer Confidence number at the end of last month. About a quarter of a second before the number was released, there was an eruption of orders in the SPDR S&P Sector ETF (SPY), the e-Mini (electronically traded futures), and in hundreds of stocks, according to Nanex, a market research firm.

Read more:

Spartacus Rex
Jun 16, 2013 - 12:48am

OH, So Now It's Our Fault!

Lloyd Blankfein, Chairman and CEO of Goldman Sachs, blames the lagging U.S. economy on Americans' negativity

Read more:
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Green Lantern
Jun 16, 2013 - 12:51am

  In 1948, China was enjoying

In 1948, China was enjoying a civil war. Communists were fighting nationalists. The nationalists had to print to finance the war, which caused the hyperinflation.

Exactly my point. Hyperinflations exist! Me typing in big bold letters THEY DON"T EXIST!!!! IT WON'T HAPPEN. End of story. DON'T YOU DARE QUESTION ME. I'M An Authority is either misinformation or disinformation. I'll give him the benefit of possibly being uninformed.

Spartacus Rex
Jun 16, 2013 - 12:54am

Max Keiser Video: "Ooops, My Bad Economics" (E457)

Keiser Report: Ooops, My Bad Economics (E457)
Mr. Fix
Jun 16, 2013 - 1:02am

Now, for a long term perspective on the price of gold:

222 Years Of Gold, Wars, Inflation, Economies, And Presidents

Submitted by Tyler Durden on 06/15/2013 - 21:22

Whether as the basis for the monetary unit of a country, or in its role in comparison to the currency of other assets, the price of gold has long been a subject of great interest to both the scholar and the general public.MeasuringWorth has created a multi-century time series of the barbarous relic's USD price. From the penny, the crown, the rose ryal, the guinea and the sovereign coin, the question of "what was the price then" is answered combining a number of sources and Visualizing Economics compares the 'real' price of gold since 1791 to GDP, wars, US presidents, and inflation...

Jun 16, 2013 - 1:05am

Underground Transformer fires

Happening much too often up in Albany also. Infrastructure is old. Lots of rain lately.

Working on such a problem right now in fact.

Jun 16, 2013 - 1:07am

@Green Lantern

+1. Armstrong's statement that fully-developed countries will never print to honour the debt because it has never happened is illogical. The logic is as ridiculous as the Bernank's "We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize"

Besides, how does he define "fully-developed"? In 300 AD, Rome would be considered "fully-developed" by contemporary standards.

Spartacus Rex
Jun 16, 2013 - 1:14am

No Surprise. More News From Fiatnam

Obama nominee for deputy director at CIA has no CIA experience, but does have a resume of reading erotic fiction aloud. The former host of “Erotica Night” at a Baltimore bookstore will be the first-ever female No. 2 official at the CIA.

On Wednesday, Barack Obama nominated Avril Danica Haines to be the deputy director of the CIA, replacing Michael Morell, who twice served as acting director of the agency but took much of the blame for editing the highly controversial talking points around the 2012 attack on the consulate in Benghazi. As a lawyer in the White House Counsel’s office, Haines oversaw the approval process for the CIA's covert actions, acting as a vital link between the CIA and the president.
Jun 16, 2013 - 1:15am

Trader Dan Bullish??

Did Trader Dan just turn Bullish...going by these words i certainly think that we have seen probable bottom

Though he is a little bit more sceptical in his interview on KWN

How all of this would impact gold is a bit unclear right now. Back in 2008 when we had the massive unwind of the Yen carry trade, gold was clocked along with everything else as you recall. That was before all this Quantitative Easing began in earnest. Only the advent of QE reversed the bleeding as it encouraged speculators to come back in and speculate again, on the long side of everything in sight!

This time around we have had all the various QE efforts which have apparently run their course. Even some of the most die hard of stock bulls are beginning to wonder if stocks had gotten way ahead of themselves. I have said from the get go that the entirety of the stock market rally is nothing but a massive Central Bank induced bubble. I stand by that view. The bond buying has allowed the economy to muddle along with some improvement but as to generating any sort of robust growth, it is and has been an abysmal failure.

If investors begin to lose faith in the Central Banks and remember this is all a confidence game, then we might see gold actually function as a safe haven this time around. instead of a large flight into government bonds, which are becoming suspect to many, gold could withstand any unwind of the carry trade this time around, unlike it did in 2008. Again, I am unsure of this but one way or the other, we are witnessing economic and monetary history.

Green Lantern
Jun 16, 2013 - 1:17am

AH, You are saying the same


You are saying the same thing I am. No idea what a fully developed country means. Might have something to do with the % of the population not wearing training bra's.

Jun 16, 2013 - 2:00am

Fukushima Radiation

The Fukushima disaster inspired some makers in Japan to make small dosimeters and radiation detectors using modern techniques and link them to GPS. Many people use them and upload data to the link above.

This produces a new data set that scientists and health experts can mine. It is crowd-sourced and not obviously manipulated (yet) by interested parties.

Hey NSA. Look - it's voluntary data collection and aggregation for a public and useful purpose!

Interestingly, they've linked these devices to bicycle spoke mounted LEDs and make the wheels display the live readings as they're riding around. They've put the device onto a quadracopter to take readings in places humans can't go.

I don't know why so many of my friends and neighbors think big gov is the only answer to life's big and little problems.


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