Remove placeholder graphics

open content.php and go to about line 23 where you see this block of code:

<div class="blog_thumb">
                <a href="<?php the_permalink(); ?>" title="<?php printf( esc_attr__( 'Permalink to %s', 'twentyeleven' ), the_title_attribute( 'echo=0' ) ); ?>" rel="bookmark">
                    <span class="thumb_thumb_decoration" />
                    <?php
                    if ( has_post_thumbnail() ) {
                        //$image = wp_get_attachment_image_src( get_post_thumbnail_id( $post->ID ), array( THUMB_IMAGE_WIDTH, THUMB_IMAGE_HEIGHT) );
                        //print_r($image);
                        the_post_thumbnail( );
                    }else{
                        ?>
                        <img src="<?php echo get_template_directory_uri();?>/images/placeholder.png" width="<?php echo THUMB_IMAGE_WIDTH;?>" height="<?php echo THUMB_IMAGE_HEIGHT;?>" alt="<?php echo esc_attr(the_title_attribute('echo=0'));?>" />
                        <?php
                    }
                    ?>
                </a>
            </div>
            <div class="blog_text">
(ignore this last div) </div>

change it to this block of code

<?php if ( has_post_thumbnail() ) { ?>
<div class="blog_thumb">
                <a href="<?php the_permalink(); ?>" title="<?php printf( esc_attr__( 'Permalink to %s', 'twentyeleven' ), the_title_attribute( 'echo=0' ) ); ?>" rel="bookmark">
                    <span class="thumb_thumb_decoration" />
                    <?php
                    if ( has_post_thumbnail() ) {
                        //$image = wp_get_attachment_image_src( get_post_thumbnail_id( $post->ID ), array( THUMB_IMAGE_WIDTH, THUMB_IMAGE_HEIGHT) );
                        //print_r($image);
                        the_post_thumbnail( );
                    }else{
                        ?>
                        <img src="<?php echo get_template_directory_uri();?>/images/placeholder.png" width="<?php echo THUMB_IMAGE_WIDTH;?>" height="<?php echo THUMB_IMAGE_HEIGHT;?>" alt="<?php echo esc_attr(the_title_attribute('echo=0'));?>" />
                        <?php
                    }
                    ?>
                </a>
            </div>
            <div class="blog_text">
<?php }else{ ?>
            <div class="blog_text" style="padding:0;">
<?php } ?>
(ignore these last divs) </div></div>