This page has been archived and commenting is disabled.

The Mainstream Media "Explains" Stuff Again, Hilarity Ensues

Tyler Durden's picture


Yesterday, the mainstream "media" was very useful in explaining why both bad economic news and good economic news lead to stock market rallies. Today, the same mainstream media is even more useful in explaining why stocks are up as the Taper seems less likely, while gold is down because the Taper is... more likely. And #Ref!

Reuters "explains" that because "concerns receded that the Federal Reserve would begin to unwind its stimulus earlier than expected", stocks rose.

At the same time, Bloomberg "explains" that because data improved, "the case" for the Fed to reduce "stimulus" strengthened leading to a gold plunge.

* * *

So, stocks up on no Taper, while gold down on... Taper. With "reporters" like these, who cares what the NSA is listening to?


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 06/27/2013 - 15:26 | 3700468 mjorden
mjorden's picture

I care ZH, I care ...

Thu, 06/27/2013 - 15:33 | 3700509 slaughterer
slaughterer's picture

As a reminder, VIX futures margins are to increase following the close of play today

Thu, 06/27/2013 - 15:49 | 3700576 ACP
ACP's picture

More interesting would be the fact that the HFTs have been banging IWM up all day, hard core. Every 5 minutes this last hour, like clockwork.

Thu, 06/27/2013 - 15:53 | 3700595 john39
john39's picture

the beatings will continue until morale ceases to exist.

Thu, 06/27/2013 - 16:07 | 3700655 Stackers
Stackers's picture

I'm still trying to figure out who these "some people" are that reporters are always quoting.

Thu, 06/27/2013 - 17:00 | 3700914 Skateboarder
Thu, 06/27/2013 - 15:27 | 3700474 ParkAveFlasher
ParkAveFlasher's picture


Thu, 06/27/2013 - 15:30 | 3700476 WhiteNight123129
WhiteNight123129's picture

When TSYs get to 2.20 or below, SHORT TREASURIES BITCHEZ.

Paper pushers want to hurt PM holders, retaliate and SHORT TREASURIES if they rally to 2.20 on the 10 Years, the 30 Years strip is the sweet spot.


The whole palladium, platinum, and to a lesser extent SILVER is up. This indicates a support from industrial demand, Gold unforunately does not have the industrial demand support which makes it easier to manipulate.




Thu, 06/27/2013 - 15:28 | 3700478 francis_sawyer
francis_sawyer's picture

As long as everyone is content to get their daily 'JERK AROUND' by [Reuters/Rothschild]... They'll continue to get the same treatment


Lot's of happy go lucky water toters on this planet...

Thu, 06/27/2013 - 15:28 | 3700480 CitizenLame
CitizenLame's picture


Thu, 06/27/2013 - 16:03 | 3700632 Bastiat
Bastiat's picture

+1 for exuberance

Thu, 06/27/2013 - 15:29 | 3700486 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Off topic but since Benghazi is still in the mix. Interesting new details in the case with official (maybe) Libyan intelligence documents to back up the claims.

Well, well, looks like Egyptian President Mohamed Morsi WAS directly involved with the attack in Benghazi that killed four Americans According to a Libyan intelligence document, the Muslim Brotherhood, including Egyptian President Morsi, were involved in the September 11, 2012 terrorist attack on the U.S. consulate in Benghazi, where several Americans, including U.S. ambassador to Libya, Chris Stevens, were killed.


Raymond Ibrahim  (h/t Jim Y) On Wednesday, June 26, several Arabic websites, including Veto Gate, quoted the intelligence report, which apparently was first leaked to the Kuwaiti paper, Al Ra’i.  Prepared by Mahmoud Ibrahim Sharif, Director of National Security for Libya, the report is addressed to the nation’s Minister of Interior. It discusses the preliminary findings of the investigation, specifically concerning an “Egyptian cell” which was involved in the consulate attack. “Based on confessions derived from some of those arrested at the scene” six people, “all of them Egyptians” from the jihad group Ansar al-Sharia (“Supporters of Islamic Law), were arrested.


According to the report, during interrogations, these Egyptian jihadi cell members “confessed to very serious and important information concerning the financial sources of the group and the planners of the event and the storming and burning of the U.S. consulate in Benghazi…. And among the more prominent figures whose names were mentioned by cell members during confessions were: Egyptian President Mohamed Morsi; preacher Safwat Hegazi; Saudi businessman Mansour Kadasa, owner of the satellite station,Al-Nas; Egyptian Sheikh Muhammad Hassan; former presidential candidate, Hazim Salih Abu Isma’il…” It should be noted that these findings are unsurprising: the supremacism of prominent Brotherhood figure Safwat Hegazi is such that he publicly declares the Brotherhood “will rule the world;  Saudi Mansour’s hate-mongering, pro-Brotherhood TV station repeatedly aired footage of the YouTube Muhammad movie inciting violence around the Muslim world; popular Sheikh Muhammad Hassan holds that smiling to non-Muslims is forbidden, except when trying to win them over to Islam;  and Sheikh Hazim Abu Ismail is simply an openly anti-freedom, anti-infidel religious leader. As for President Morsi, a video made during the consulate attack records people speaking in the Egyptian dialect: as they approach the beleaguered U.S. compound, one of them yells to the besiegers, “Don’t shoot—Dr. Morsi sent us!”

See website for official documents.

Thu, 06/27/2013 - 15:38 | 3700506 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

And to go along with this.

Was Egypt’s president, Mohamed Morsi, behind the Benghazi attack? The terrorist attack in Benghazi is far more disturbing than previously thought. Although not  reported in the U.S. media, the possibility exists that the Egyptian government may have played an operational role in the attack. YouTube videos of the terrorist strike raise a serious problem that only an Arabic speaker would detect: some of the terrorists are speaking in the Egyptian dialect of the Arabic language.


Frontpage Magazine  Indeed, one of the videos shot with a cell phone of one of the attackers emerged around the time four Americans were killed. It shows a mob approaching the American compound under siege, clearly telling the terrorists in the dialect of Upper Egypt: Mahadesh, mahadesh yermi, Dr. Morsi ba`atna” — which translates to: “Don’t shoot, don’t shoot, Dr. Morsi sent us.” The words “Mahadesh yermi” for “don’t shoot” are characteristically spoken in Egyptian Arabic, while Libyans from Benghazi would say, “Matermey” for “don’t shoot.” “Dr. Morsi” refers, of course, to president Mohamed Morsi of Egypt. The name Morsi is Egyptian and does not exist in any other Arabic speaking country.


The Egyptian regime’s connection to Benghazi also helps explain why it denied U.S. the ability to interrogate Abo Ahmed, an Egyptian suspect in the terrorist attack. According to a Fox News report, Abo Ahmed had contacted Al-Qaeda leader Ayman Al-Zawahiri in late 2012, asking to establish a base in Libya “to take advantage of the conditions in Libya after the revolution in order to buy weapons and attract foreign fighters.” Egyptian media demanded an explanation from the Egyptian regime on why Morsi’s name was mentioned by jihadists during the attack. This question went unanswered, and until now there has been no word of this issue in English-language media.


This incident fits a larger context: On the same day that the U.S. compound in Benghazi was attacked, so too was the U.S. Embassy in Cairo under attack, resulting in al-Qaeda flags flying above the embassy in the place of American flags. According to friends living two blocks away from the U.S. embassy, Egyptian security was withdrawn from protecting the embassy a month prior to the attack – a development without precedent. Reports from numerous Egyptian dissidents at that time, which included prominent Egyptian dissident Wael Abbas on his twitter account, stated that the people surrounding the U.S. embassy in Cairo were not protestors but “regime-hired thugs.” Anyone who has lived in Egypt knows that Egyptian citizens don’t have access to enter the neighborhood where the U.S. embassy is located without passing through at least two check points where they are required to show personal ID, state the reason for entering the neighborhood and provide proof of this purpose. I know because I personally had to do this numerous times for decades.


It should not come as a surprise that the Muslim Brotherhood (MB) would engage in attacks against the United States. The MB’s ideology incorporates war tactics and supports terrorism against the U.S. as one of its major objectives. The current MB leadership isn’t ashamed of announcing its support for al-Qaeda and Osama Bin Laden’s attack against America. The MB member and Freedom and Justice Party (FJP) Vice Chairman Essam El-Erian stated in March 2011: “The assassination of the leader Osama Bin Laden doesn’t mean the end in the war against the enemies of Allah. The way he was killed reveals the ugly face of American civilization.” Yet after El-Erian’s announcement of his support for Bin Laden, State Department officials welcomed him in December 2012 in the U.S..


According to the MB and Sunni doctrine, it’s only permissible for Islamist leaders to maintain a ten-year duration of hodna (Islamic truce) with an infidel nation. This raises the question of whether breaking the truce was the root of the Sep. 11, 2012 attack in Benghazi. That attack against America was, according to Islamist doctrine, the only way the MB would be allowed to renew a truce. The MB also might have possibly needed to legitimize their Islamic rule among their jihadist followers through exercising jihad. The MB’s duality and hypocrisy remain major war tactics. While dealing with the U.S., Morsi himself practices deceit when he, for instance, calls President Obama a liar in Arabic, and a friend in English. The MB war is fueled and encouraged by the submissive and self-loathing suicidal foreign policy of the Obama administration, which elevates U.S. enemies above U.S. interests.


Let's see the MSM explain this one. Oh wait they won't they will just ignore everything out of hand.

Thu, 06/27/2013 - 15:52 | 3700587 NotApplicable
NotApplicable's picture

Funny how there's all this info, but nothing connecting Morsi with his DC handlers who setup this fake abduction.

Tell me, do you work for the State Department directly?

Thu, 06/27/2013 - 15:57 | 3700603 12ToothAssassin
12ToothAssassin's picture

Benghazi is the one that counts - all these others including Snowden are all intended to minimize the damage of the big B - Where EXACTLY was Obama at that time??

Thu, 06/27/2013 - 16:05 | 3700647 Bastiat
Bastiat's picture

No problem--it is certain that Hillary's opponents in the next presidential race will not be so rude as to mention this, other than superficially. 

Thu, 06/27/2013 - 16:09 | 3700662 NotApplicable
NotApplicable's picture

I don't doubt this. I was pointing out the the posts above work to ABSOLVE Obummer of culpability, laying the blame for the whole affair at the feet of Morsi and the Muslim Brotherhood.

I find it kind of strange that someone would go to all of the trouble to post this without continuing on to the obvious conclusion that there are western intelligence agencies directing it all.

Thu, 06/27/2013 - 16:54 | 3700764 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Wrong. You still have the issue of the stand down order and why. It is well known that prominent members of the Muslim Brotherhood have positions in the White House and government in general. One is linked to Hillary and Wiener running for mayor of NYC.

These are some known MB people

Arif Alikhan – Assistant Secretary for Policy Development for the U.S. Department of Homeland Security.

Mohammed Elibiary – Homeland Security Adviser.

Rashad Hussain – Special Envoy to the (OIC) Organization of the Islamic Conference.

Salam al-Marayati – Obama Advisor and founder Muslim Public Affairs Council (and its current executive director.)

Imam Mohamed Magid – Obama’s Sharia Czar – Islamic Society of North America

Eboo Patel – Advisory Council on Faith-Based Neighborhood Partnerships


Huma Abedin - Weiner's wife and former Hillary aide also has ties to the MB.

Yesterday was important because they had closed door classified hearings concerning Benghazi. More importantly Carter Ham former head of Africom testified, he knows who gave the stand down orders. There is only One person who could legally have issued the order and the Only person higher up on the command food chain a general would have to comply with the order like it or not or else risk being relieved of duty, which apparently happened since they ignored the initial stand down order since it wasn't given by One that they had to follow the order due to protocol. Generals and military in general are funny like that when it comes to protocol and chain of command.... Don't quote me on this but I believe the highest military rank a civilian can be considered based on GS pay grade is Colonel or Lieutenent Colonel = GS 15. Anyone in the military would have to defer to a civilian who's GS paygrade is higher than their military ranking when it comes to operations and orders. Only One non serving military member ranks higher than a general.

Thu, 06/27/2013 - 16:26 | 3700763 earleflorida
earleflorida's picture

Steven's bypassed Tripoli and went directly to Benghazi [cia hq] to negotiate/&/ turnover of 'MANPAD's' in rebel hands that were meant [probably?] to go directly to Syrian rebel's [al Qaeda?] with U.S. fingerprints all over the North Africa/ Southern?Europe sirocco! A tsunami out-of-season,... and a geo-political maelstrom timebomb!?


Thu, 06/27/2013 - 15:29 | 3700487 PontifexMaximus
PontifexMaximus's picture

Hee, june 30th ahead, markets have to move north, the piper want's to be paid.

Thu, 06/27/2013 - 16:09 | 3700665 SmallerGovNow2
SmallerGovNow2's picture

Bingo!  End of Quarter window dressing and prep to take in 401k's at the highs...

Thu, 06/27/2013 - 15:30 | 3700494 Dr. Engali
Dr. Engali's picture

In other news today .The sun rose from the west today because it was tired of coming up in the east.

Thu, 06/27/2013 - 17:43 | 3701079 imbrbing
imbrbing's picture

That only happens on glue sniffing days for me :)

Thu, 06/27/2013 - 15:31 | 3700499 Kaiser Sousa
Kaiser Sousa's picture

i told ya'll despite all his rants Santelli is one of them also...

he just was asked by Buttaromo how do u explain the Gold crash...

He called real money advocates "doomsayers" like Rand and attributed the phony paper price fraud to them caving....

Fuck Rick Santelli...establishment bitch....

Thu, 06/27/2013 - 15:35 | 3700516 disabledvet
disabledvet's picture

"like trying to explain things to a woman" this market is. i agree. huh...go figure. "all news is good."

Thu, 06/27/2013 - 17:45 | 3701087 imbrbing
imbrbing's picture



Rules of news

                Rule #1 All news is good news

                Rule #2 If news is bad, see Rule#1

Thu, 06/27/2013 - 15:41 | 3700546 SemperFord
SemperFord's picture

Hate to doubt you but as please

Thu, 06/27/2013 - 15:43 | 3700553 fonzannoon
fonzannoon's picture

when it becomes serious even santelli has to lie.

it cracks me up that people think because he yells and throws some garbage cans that he is not a part of the show.


Thu, 06/27/2013 - 16:49 | 3700877 Insignificunt
Insignificunt's picture

I watched Santelli's garbage can antics the other day and couldn't stop laughing at what a piss-poor actor he is. His angry schtick makes Alex Jones' seem credible by comparison.

Thu, 06/27/2013 - 18:10 | 3701180 TheEdelman
TheEdelman's picture


/wipes a tear away

but Santelli... he's all I have left on the picture box


Thu, 06/27/2013 - 15:53 | 3700592 NotApplicable
NotApplicable's picture

He's a Freidmanite adherent of the Chicago Business School.

Thu, 06/27/2013 - 16:09 | 3700667 NOTW777
NOTW777's picture

thats not a fair characterization of what he said

Thu, 06/27/2013 - 21:08 | 3701748 Serenity Now
Serenity Now's picture

I heard him.  He said gold people were Ayn Rand fans who are figuring out that they are wrong.  Santelli screams a lot, but he usually doesn't say anything worth hearing.

Then one of the CNBC panel guys (on with Maria later in the day) said that he hates gold, always has, never advised people to buy it on the run up, but now might be a good time to add a gold position to your portfolio at $1200.  I would have laughed, but it's not funny how they trick people.  

Thu, 06/27/2013 - 15:31 | 3700500 1C3-N1N3
1C3-N1N3's picture

Doublethink is alive and well.

Thu, 06/27/2013 - 15:36 | 3700520 disabledvet
disabledvet's picture

more like "one track mind" it would appear.

Thu, 06/27/2013 - 16:04 | 3700637 Motorhead
Motorhead's picture

"One Track Mind"...another fine Motörhead song.

Thu, 06/27/2013 - 16:26 | 3700765 A. Magnus
A. Magnus's picture

I always felt the Motorhead song 'Talking Head' was TOTALLY appropriate when decribing mainstream whore presstitutes...

Thu, 06/27/2013 - 16:30 | 3700796 1C3-N1N3
1C3-N1N3's picture

Just gonna leave this here. It's abrasive, but I hear a lot of ZH in the words.

("We Never Should Have Met" by Aliases, 4:58)

Thu, 06/27/2013 - 15:33 | 3700508 McMolotov
McMolotov's picture

Yep, Orwell had this shit pegged:

"To know and not to know, to be conscious of complete truthfulness while telling carefully constructed lies, to hold simultaneously two opinions which canceled out, knowing them to be contradictory and believing in both of them, to use logic against logic, to repudiate morality while laying claim to it, to believe that democracy was impossible and that the Party was the guardian of democracy, to forget, whatever it was necessary to forget, then to draw it back into memory again at the moment when it was needed, and then promptly to forget it again, and above all, to apply the same process to the process itself — that was the ultimate subtlety; consciously to induce unconsciousness, and then, once again, to become unconscious of the act of hypnosis you had just performed. Even to understand the word 'doublethink' involved the use of doublethink."

Thu, 06/27/2013 - 15:52 | 3700586 ebworthen
ebworthen's picture

Excellent.  Thanks for that.  Absolutely pegged.

Thu, 06/27/2013 - 16:01 | 3700619 NotApplicable
NotApplicable's picture

Absolutely indeed.

What I find interesting about it is how it negates the need to keep the narrative to a plausible fiction from unwinding. For instance, there's no coherent narrative surrounding the Boston bombing, nor will there ever be (I'm betting). Instead there are several of them which do not intersect at all, so the MSM picks and chooses which "facts" to represent when they feel the need to tell a story.

Thu, 06/27/2013 - 16:14 | 3700686 Burr's 2nd Shot
Burr's 2nd Shot's picture

The lesson (for me, at least) was that it is the Party members who were required to doublethink. The Party members got re-educated. The proles hadn't a worry in the world, except for booze, pornography, and the lottery.

Thu, 06/27/2013 - 17:02 | 3700926 prains
prains's picture

"that was a piece of furtive knowledge which he happened to possess because his memory was not satisfactorily under control.......the enemy of the moment always represented absolute evil"

Thu, 06/27/2013 - 16:01 | 3700623 Ignatius
Ignatius's picture

I had that same thought the last time a professional lady friend of mine was giving me a hand j... oh, never mind.

Thu, 06/27/2013 - 16:07 | 3700657 Al Huxley
Al Huxley's picture

Fucking brilliant - Orwell saw the future, in all its horrible detail.  I can't imagine a better description of the way society works today than that quote.

Thu, 06/27/2013 - 15:33 | 3700510 howenlink
howenlink's picture

PMs, check.  Food, check.  Popcorn, check.  Kraken spiced rum, check.

Thu, 06/27/2013 - 15:43 | 3700550 francis_sawyer
francis_sawyer's picture

spam, spam, spam, spam, spam, spam baked beans, spam, spam, & spam... CHECK


Thu, 06/27/2013 - 15:44 | 3700555 jomama
jomama's picture

may i recommend Sailor Jerry's?

Thu, 06/27/2013 - 15:48 | 3700571 francis_sawyer
francis_sawyer's picture

You mean... spam, spam, spam, baked beans, spam, spam, Sailor Jerrys, & spam?

Thu, 06/27/2013 - 15:55 | 3700600 ebworthen
ebworthen's picture

Spam, eggs, sausage, and Spam; and Jim Beam Black.

Thu, 06/27/2013 - 16:00 | 3700617 francis_sawyer
francis_sawyer's picture

can I substitute the eggs & sausage with SPAM?...

Thu, 06/27/2013 - 16:02 | 3700629 ebworthen
ebworthen's picture

Sure.  That's the great thing about SPAM, it goes with everything, including SPAM.

Thu, 06/27/2013 - 16:15 | 3700700 Al Huxley
Al Huxley's picture

Up arrows for all the SPAM posts!

Thu, 06/27/2013 - 16:15 | 3700701 centerline
centerline's picture

but I don't like spam!

(lol... one of the best MP skits of all time.  no one has managed to replace those guys or even come close).


Thu, 06/27/2013 - 16:12 | 3700675 gonetogalt
gonetogalt's picture

Speaking as a guy who eats tinned food for long periods of time, (in the local bush), let me recommend 2 lbs pinto beans, one tin corned beef, 2 tins tomatoes, chili to taste, the only fresh things needed here are onion and garlic. Spam gets awfully old fast...

Thu, 06/27/2013 - 15:35 | 3700515 Sovereign Economist
Sovereign Economist's picture

Well, looking at these examples of MSM Press, I guess Bernanke CAN fool some of the people some of the time...

Thu, 06/27/2013 - 16:04 | 3700641 CrashisOptimistic
CrashisOptimistic's picture

THIS is not the critical disconnect since obviously gold has no value to society.

The critical disconnect is that just 24-36 hrs after the 1.77% GDP print, oil is at $97 and real oil, Brent, $103.  1.77% bespeaks lowered activity and lowered consumption.

In this alleged abundance from shale, and lowered consumption, we get price increases in Brent.  One is going to have to start questioning the abundance stories.

Thu, 06/27/2013 - 21:20 | 3701816 Serenity Now
Serenity Now's picture

Yes.  Deflation and supply constraints are not easy for most people to believe.

Thu, 06/27/2013 - 15:36 | 3700519 JJ McApe
JJ McApe's picture

all rigged games

Thu, 06/27/2013 - 15:37 | 3700524 slaughterer
slaughterer's picture

One more member of the Fed goon squad out tomorrow.  

Thu, 06/27/2013 - 15:39 | 3700532 Unprepared
Unprepared's picture

Tyler is confused because he doesn't master DOUBLETHINK.

Thu, 06/27/2013 - 15:42 | 3700533 arkel
arkel's picture

They probably have algos writing these articles. These discrepancies are a bug they need to fix.



Thu, 06/27/2013 - 15:41 | 3700541 buzzsaw99
buzzsaw99's picture

clf - mo mo

aapl - mo mo

gold - mo mo

silver - mo mo

do not kick against the goad. continuing to hold things that have fallen out of favor with the maggots is an exercise in pain. everyone wants to chase the last bubble.

Thu, 06/27/2013 - 16:14 | 3700689 Al Huxley
Al Huxley's picture

I generally agree, except that in the case of gold there are hundreds of millions of buyers who would never buy a share of AAPL.  Its a different market.  Now, if we're talking about GLD, that's a a different story....

Thu, 06/27/2013 - 16:22 | 3700746 buzzsaw99
buzzsaw99's picture

You know who (cough, roach motel, cough, hedge funds) I'm talking about.

Thu, 06/27/2013 - 15:43 | 3700549 crzyhun
crzyhun's picture

"Don't you see that the whole aim of MSM is to narrow the range of thought?"

GO 1984

Thu, 06/27/2013 - 15:43 | 3700554 Fuku Ben
Fuku Ben's picture

This smells of government bureaucratic incompetence

Can't these embedded propagandists do anything right to maintain the story line and hold the illusion together?

Thu, 06/27/2013 - 16:03 | 3700634 SmallerGovNow2
SmallerGovNow2's picture

great link thanks...

Thu, 06/27/2013 - 15:57 | 3700569 ebworthen
ebworthen's picture

"Partly cloudy" forecast correct 90% of the time.

"Tensions in the Middle East" a winner 100% of the time.

"Market" news always conflicted between reality, perception management, and delusion; most often the latter two - with a sprinkling of reality for seasoning.

Thu, 06/27/2013 - 16:09 | 3700666 SAT 800
SAT 800's picture

Expect Inflation; with occasional Shit Storms.

Thu, 06/27/2013 - 15:50 | 3700583 CaptainSpaulding
CaptainSpaulding's picture

Roger Grimbsy and Bill Beutel, Please come back. MSM needs you badly

Thu, 06/27/2013 - 15:51 | 3700585 Frastric
Frastric's picture

Bloomberg is run by Jews, and we know they are out to confuse and bewilder the goyim.

Thu, 06/27/2013 - 15:54 | 3700596 EclecticParrot
EclecticParrot's picture

The astute media is cleverly hedging:  selling gold is the bull case, buying stocks is the bear case.  Um, by "bull case", I'm referring to the economy, of course.  And the "bear case", that's the economy also, makes perfect sense.   Ah ... wait a minute . . . (insert the standard 'confused media' look, that incomparable cross between a sleeping manatee and Skip Bayless while Stephen A. Smith is talking.)

Thu, 06/27/2013 - 15:58 | 3700597 Yen Cross
Yen Cross's picture

    Let's get real here. The ES and DOW are both at the 50 and 20 day SMA convergence. Which coincidentally is just about the 50% Fibi of the yearly highs, and post Fed. lows.(these moves are so engineered)

   The markets are going to have a tough time, with the $ at these levels.The 10year has been bought hard this week. Hmmm?

  P.S. Does Reuters even have a spell checker? Or does the f**king 'Leprechaun' in the back room that writes their headlines, do that as well?


Thu, 06/27/2013 - 16:20 | 3700725 Al Huxley
Al Huxley's picture

So?  Just knock the dollar down.  Yesterday - 'Gold supply shortages due to record demand in India and China, while price crashes due to higher dollar'.  Tomorrow - 'Gold supply shortages due to record demand in India and China, as price crashes due to weaker dollar'.  Eventually they'll just simplify the story - 'Price of gold down sharply due to record demand out of India and China' - Easier for people to follow. 



Black is White, War is Peace, Slavery is Freedom, I Love Big Brother

Thu, 06/27/2013 - 16:59 | 3700910 Yen Cross
Yen Cross's picture

    It's just one continuous circle jerk.

Thu, 06/27/2013 - 15:58 | 3700612 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Another story probably won't see the MSM explain concerning the IRS and just goes to show how politically correctness will turn in on itself and destroy the whole damn system. I guess we need to be politically correct when targeting groups.

Yesterday a report noted that not all screening terms used by the IRS to investigate nonprofit applications targeted tea party or conservative groups. They also used terms like “progressive” and “occupy,” prompting the usual suspects to try to declare the scandal over.

Today, though, a letter from a Treasury Department inspector general makes it clear that the IRS truly and sincerely was focusing on tea party groups. The Hill reports:

Liberal groups seeking tax-exempt status faced less IRS scrutiny than Tea Party groups, according to the Treasury inspector general. 

Russell George, Treasury’s inspector general for tax administration, told Rep. Sandy Levin (D-Mich.) in a letter dated Wednesday that the IRS did not use inappropriate criteria to scrutinize groups with “progressives” in their name seeking tax-exempt status.

“Our audit did not find evidence that the IRS used the ‘progressives’ identifier as selection criteria for potential political cases between May 2010 and May 2012,” George wrote in the letter obtained by The Hill.

The inspector general stressed that 100 percent of the groups with “Tea Party,” “patriots” and “9/12” in their name were flagged for extra attention, while only 30 percent of the groups with “progress” or “progressive” were highlighted as potentially political. George’s letter does not say why the progressive groups were given extra scrutiny.

It’s fascinating that the Obama Administration and various government officials have made it clear that they understand that this scandal is real and that very inappropriate things happened (even if they keep trying to pass the buck on responsibility). It’s the supporters of the administration from the outside (and Congress) who are having a tough time accepting it.

Thu, 06/27/2013 - 15:58 | 3700613 kchrisc
kchrisc's picture

"Look ma! I can talk out of both sides of my mouth and out my ass too."

Thu, 06/27/2013 - 16:04 | 3700638 francis_sawyer
francis_sawyer's picture

"I've blown my farts from both sides now
From give and take, and still somehow
It's farts illusions I recall
I really don't know farts... at all"

Thu, 06/27/2013 - 16:08 | 3700645 SheepDog-One
SheepDog-One's picture

So all the easing and new money pumping only gets gold from 2007's $700 to $1,100 so far and that's it?  $400 bucks?

Man it's just a shame, EVERYTHING has done far better. They're trying to make it so everyone just gives up.

Thu, 06/27/2013 - 21:28 | 3701864 Serenity Now
Serenity Now's picture


With all due respect, it went up to almost $1900.  Percentage wise, the stock market went up about the same during that period.  The easing and new money (increase in money supply = inflation) started to have diminishing returns, and now I believe we've rolled over into deflation territory.

Thu, 06/27/2013 - 16:06 | 3700648 Motorhead
Motorhead's picture

The ridiculous gold pumpers at KingWorldNews have a lot of explaining to do, too.  And who can forget Jim Sinclair saying that gold wouldn't go below $1600 after the Cyprus fiasco?


Thu, 06/27/2013 - 16:11 | 3700672 SheepDog-One
SheepDog-One's picture

Well I remember a few years ago when Youtube etc was all ablaze with the PM hysteria and I was telling people I was very nervous about it. So many bought hundreds higher than here and it must be tough seeing it get monkey stomped every day. Then again I also told people gold and silver are for holding for a very long time, thru a collapse and out the other side.

Thu, 06/27/2013 - 21:33 | 3701893 Serenity Now
Serenity Now's picture

I, too, feel bad for people watching gold get stomped on.  PMs are supposed to be a hedge against inflation, but most people don't recognize inflation (increase in the money supply) and so they do the opposite and don't buy in (or get out) at the right moments.

Thu, 06/27/2013 - 16:15 | 3700690 NotApplicable
NotApplicable's picture

Anybody dumb enough to make market calls for a commodity they KNOW has no true functional market? Well, that's a tell, right there.

Tell ya what, they can run the dollar price to zero, but what they cannot do is to destroy gold's true value.

As long as you're holdin', you're golden.

Thu, 06/27/2013 - 16:22 | 3700716 SheepDog-One
SheepDog-One's picture

Looks to me like they CAN do anything they feel like....what's to stop them from opening gold at $5 tomorrow and S&P at 10,000? And what would anyone do about it? Issue a sternly worded statement of disagreement?

Thu, 06/27/2013 - 16:35 | 3700820 NidStyles
NidStyles's picture

I would not disagree one bit, I would have a very large order placed though.

Thu, 06/27/2013 - 16:08 | 3700650 ebworthen
ebworthen's picture

Meanwhile, Bartiromo on CNBC interviewing Lloyd Blankfein and later Hank Paulson.

The architects of the 2008 crash, the bank bailouts, the continuing financialization and wealth transfer; center stage on the market "jounalism" network.

Thu, 06/27/2013 - 16:11 | 3700673 SAT 800
SAT 800's picture

Gold went down about 3% today; Silver did not. I regard this as highly significant.

Thu, 06/27/2013 - 16:12 | 3700677 PC Load Letter
PC Load Letter's picture

I will subscribe to the first paper that has a headline saying:

"Who the fuck knows why the market is up, seriously?"


Thu, 06/27/2013 - 16:13 | 3700680 SAT 800
SAT 800's picture

I'm issuing an official Buy Signal for Silver. But don't forget I'm just another human being; completely capable of being completely wrong.

Thu, 06/27/2013 - 16:15 | 3700703 SheepDog-One
SheepDog-One's picture

Right because silver is just stomped from $40 to here....surely they can't stomp it down anymore. Waiting for Ron Paul's price of 'infinity' lol.

Thu, 06/27/2013 - 16:16 | 3700713 Frank N. Beans
Frank N. Beans's picture

I guess TPTB can have their cake and eat it too. 

We all live in Wonderland now.

Thu, 06/27/2013 - 16:24 | 3700758 SheepDog-One
SheepDog-One's picture

Want another piece of cake Bernank? Don't worry about that odd almond flavor up in it.

Thu, 06/27/2013 - 16:28 | 3700775 orangegeek
orangegeek's picture

Mainstream Media is for bagholders and for those who think that there's a difference between the Democrats and Republicans.


Macros don't matter much either.

Thu, 06/27/2013 - 17:28 | 3701026 IridiumRebel
IridiumRebel's picture

This is your best post yet. I may one day read your blog....maybe.

Thu, 06/27/2013 - 16:29 | 3700782 Bear
Bear's picture

FED is still actively promoting the use of the printed dollar reserve slush funds to buy equities and sell PM's ... 'Taper' is just like 'Sequester', the word can be used for what the hell ever you wish ... however, I believe do that we should not sequester the taper

Thu, 06/27/2013 - 16:42 | 3700855 nakki
nakki's picture

Why does anyone watch CNBC anymore? Same with Blomberg or the Fox out of business channel.  We all know that its propaganda, and the fact that anyone would expect difference is illogical. These people don't want the system to crash they have nothing else they can do for a living. I mean what could liesman do if he wasn't blowing Ben all the time?? Anyone? Anyone? Just as I thought, crickets. As for gold (long physical and paper) same with silver. So what does everyone expect, I mean who doesn't want to own $ or yen or that make believe currency the Euro. After all its not like there is any real Capital that goes into its creation. See its easy $. (Not to slight the Brits, I almost forgot the Pound, fuck me.)

Thu, 06/27/2013 - 16:50 | 3700883 One World Mafia
One World Mafia's picture

Inconsistant BITCHEZ!

Thu, 06/27/2013 - 17:19 | 3700988 resurger
resurger's picture


Thu, 06/27/2013 - 19:18 | 3701348 surf0766
surf0766's picture

They are communist propaganda fucktards

Thu, 06/27/2013 - 19:55 | 3701469 Jorgen
Jorgen's picture

These are machine generated "financial news." It's been going on for a while and obviously, depending on AI programming, it can create BS outcome.

Thu, 06/27/2013 - 22:00 | 3702002 The Wedge
The Wedge's picture

Re-enforced delusion. I'm reminded of the film Eric the Viking with Tim Robbins and Monty Python's Terry Jones. "This is not happening, it's all an illusion". 

"Let's sing the one that go's...tum-te-tum...te-tum-te-tum"

One of my favorites.

Do NOT follow this link or you will be banned from the site!