Tuesday, December 31, 2013

100 Years of the Federal Reserve

100 years ago, this December, the United States Congress created a central bank today, we know it as the Federal Reserve Bank of the United States. What most people don't know is that the bank isn't a federal entity and candidly, it really has nothing in reserves.

Is the Federal Reserve good for the United States? Is it even possible to get rid of it?

The first step toward truth is to be informed.

- Source, Ben Swann:

Sunday, December 29, 2013

Where Is All The Gold Going?

The London Gold Vaults Are Empty. All That Gold - 26 Million Ounces of It Has Been Shipped Off To China Never To Return. The Chinese Do Not Want U.S. Dollars Anymore, They Want Gold!....

Monday, December 16, 2013

Bitcoin is Just Another Asset Bubble

“Bitcoin…was about a dollar per Bitcoin a couple of years ago. Now it’s $1000…A painting by Francis Bacon called ‘Three Studies of Lucian Freud’ [just] sold for $142 million, which was the highest price ever paid for a painting at an auction….[A] diamond [just] sold for $83 million which is the highest price ever paid at auction for a diamond, and trophy real estate in Manhattan, London, Singapore and Hong Kong have all blown through previous records…So there are asset bubbles [occurring] all over the world.”

- Source, John Rubino via:

Saturday, December 14, 2013

Jim Willie - Forget About a Taper! FED Will Triple QE!

The true volume of QE bond monetization purchases is much higher than reported. It is way over $100 billion per month, probably closer to $200 billion per month.

The USFed recently relented, they blinked, and when they briefly told the truth, they admitted the QE volume would continue forever and a day. Given the political pressures, and some reflection in corner office lavatories, they toy with the concept of tapering again. They realize the hyper monetary inflation has turned into a deadly toxic dependence. It is useful for the mere mortals among the 99% crowd to absorb the realities behind QE and its true nature, better described as QE to Infinity. The sidebar is Zero Percent Forever. The USFed is stuck in the destructive monetary policy.

The USEconomy is in steady deterioration, the recession dreadful and relentless. The USFed is monetizing an amount equal to 150% of the official USGovt deficit. The Global Currency Reset is extremely complicated, thorny, and dangerous.

The winner will be Gold.

- Sources:

Thursday, December 12, 2013

A Norwegian Carpenter Thanks American Officials for Precious Metals Manipulation

I was born in Brooklyn in the beginning of the 1950′s, and I grew up in the countryside in Norway. I always have been proud to be an American citizen, but now I am just worried.

Earlier everybody in Europa dreamed about American cars as, Chevrolet Corvette, Camaro, Cougar, Pontiac Firebird , Mustang, Plymouth, Cadillac, Continental etc. etc.
It was the Europeans’ and Norwegians dreams. Many still do.

From 1973 to 1976 I was a carpenter in Norwalk, Connecticut, and to my astonishment European cars were rich people’s prestige cars such as Porsche, Mercedes, BMW and Volvo. Even greater was my astonishment when I saw Americans buy Japanese cars. I – a simple carpenter from the Norwegian countryside realized that if the Americans continued on this path you would destroy your own proud car industry. I told the Americans that it was like sawing off the branch you are sitting on. But nobody listened to a simple carpenter from Norway. The result we all can see now – America’s pride – Detroit is bankrupt!

I also witnessed President Nixon’s trip to China where he signed the fatal trade agreement with the Chinese. As a result, U.S. companies moved their factories to China – American workers were unemployed – and the idiots started to import American products – manufactured in China – back to the USA?!?! To finance this stupidity they began to borrow money – a lot of money. The result we all can see now – average Americans have debt over your ears you never can repay – and now your government wants to borrow more money, or print more worthless paper dollars? QE1, QE2, QE3, QE4, QE-Bankrupt! Are all of the American officials retards?

And now your leaders manipulate the gold and silver prices (Comex) to keep this stupid scam going a few more weeks or months. Meanwhile, the Wise Man from the East – the Chinese, the Indies, The Russians and the Arabs buy your gold and silver on sale, paying you with worthless dollar bills you unrestrained have been printing. Have you Americans completely lost your mind? Have you become a country of retards? The whole world is laughing of you! We can all see that the former mighty America is bankrupt, and we do not understand that the people let your leaders continue this obvious scam.

Before you had Gangsters, now America is governed by Bangsters supported by Washington that scams all its citizens.

Finally, I would like to thank your politicians which made it possible for me to purchase 10,000 physical Silver Eagles and 100 Gold Eagles very, very, very cheaply – I even paid with your (very soon) worthless paper dollars – and secured my and my children’s future.

Regards an astonished SilverBug in Norway.

- Source, The Silver Doctors:

Tuesday, December 10, 2013

Bitcoin Crashes 20% on China Clampdown Fears

Virtual currency bitcoin lost around $200 in value on Thursday after the People's Bank of China outlawed the country's banks from using it, leading some to cash in on their investments.
At around 8 a.m. London time, the price of a bitcoin sharply dipped by 20 percent back below the $1,000 level it reached around one week ago. At midday London time, the currency was trading at $980 on major exchange Mt Gox and $932 on CoinDesk's index, which measures a basket of prices around the world.

The fall in the price coincided with a statement released on the website of the China's central bank which warned of the risks that the cryptocurrency posed. It warned that Chinese financial institutions should not trade the digital currency saying that while it does not yet pose a threat to China's financial system, it carries risks.

- Source, CNBC:

Sunday, December 8, 2013

Bitcoin vs. Gold The Great Debate

With the surging popularity of Bitcoin, Peter Schiff sees another bubble in the making. Peter explains why Bitcoin is not "gold 2.0" but fool's gold. It's modern day alchemy and you are assuming significant risks by "investing" in it. Like a pyramid scheme, many early adapters will profit from bitcoin, but those profits will come at the expense of the losses suffered by those who adapt later.

- Source, Euro Pac Metals:

Wednesday, December 4, 2013

Jim Sinclair - The Game Changer

In the latest episode of Ask the Expert, I had the pleasure of interviewing none other than the legendary Mr. Gold, Jim Sinclair. This was a powerful interview that was hard to wrap up, due to the overwhelming questions that our listeners and I had for Jim Sinclair.

Jim Sinclair is the CEO of Tanzania Royalty Exploration. He was recently made Chairman of the Advisory Board for the Singapore Precious Metals Exchange. Jim has also authored numerous magazine articles and three books dealing with precious metals, trading strategies and geopolitical events and the relationship to world economics and the markets. In January 2003, he launched JSMineset.com. As always, Jim gave a compelling interview, where a variety of important topics were covered.

- Source, Sprott Money Blog:

Monday, December 2, 2013

Chinese Gold Demand Continues

The demand in China for gold has been incredible. Not only does China retain all the gold it mines, it continues to import the yellow metal at a blistering pace. Depending on which source you reference this number can change drastically. This difference in reporting, prompted an open letter to the World Gold Council by Eric Sprott. Eric believes that the “official” numbers released by the World Gold Council are drastically under-reporting the real numbers.

Many in the precious metals community agree. Including Alasdair Macleod, who recentlyreleased a report following up on Eric’s letter. Alasdair, breaks down the numbers and shows exactly how wrong the World Gold Council is. The difference is extreme.

Using the WGC numbers, the predicted annualised importation of gold into China will equal 1,091.5 tonnes of gold. Alasdair, in contrast uses the information released by the Chinese government. The number he comes up with is quite different. For the first nine months of this years (according to the hard facts) China has imported a total of 2,130.7, or 2,841 tonnes annualised. A 1,749.5 tonne difference!

Supporting Alasdairs numbers, is the world’s largest jewellery group, Chow Tai Fook Jewellery Group Ltd. which saw sales jump by 49% in the first half of this year!

The question many in the precious metals community have is why does the WGC continue to downplay the demand for precious metals? Why do they continue to release low quality reports that use inferior data? Perhaps this is simply more MOPE?

- Source, Sprott Money blog:

Saturday, November 30, 2013

Chinese Gold Imports Surpass 1000 Tonnes in 2013

China increased the import of gold through Hong Kong last month, with gross gold imports for the month of October coming in at 147.92 tonnes, of which 131,19 tons remained as net import. China has imported more than 100 tonnes of gold each month in the past six months. Gross imports in the first ten months of 2013 have doubled compared to the same period in 2012.

In the first ten months of 2013 China has imported a net amount of 957.22 tonnes of gold from Hong Kong. With two months to go it is quite obvious that China will surpass the 1,000 tonne estimate by the World Gold Council. Gross imports for this year stand at 1,262.82 tonnes, double the amount in the same period of last year.

- Source, Market Update:

Thursday, November 28, 2013

The Chinese Are Manipulating Gold

The Dollar’s fate lies in China’s Hand. Gold is the key to this fate. The Chinese Central bank’s fingerprints are all over the gold manipulation story.

The Chinese play the gold players like fiddles, rigging the price of gold lower to take in as much as they can.
Like Sun Tsu said, If you can win the battle without fighting, that is a good war. They’ve not fired a shot. They’ve used our currency reserves to buy up our gold.

The existence of our world reserve currency status will depend on how and when China shows the world what they hold in gold. That report is due in 2014. Once they show the world they have the gold to back their currency, the entire world will flock to the winner. 

The fate of the dollar is almost entirely tied to China, its gold holdings and the value of gold once its real value is set.

$50,000 an ounce could become a real figure.

- Read the full story here:

Saturday, November 23, 2013

Gold is Signalling a Manufactured Crash

I had the chance yesterday to reconnect with technical gold trader Gary Savage, publisher of the Smart Money Tracker daily gold market commentary and trading service, which has outperformed most of the world’s hedge funds in 2011 and 2012.

It was a powerful conversation as Gary indicated that gold is now signaling the increasing likelihood of another overnight sell-off event, similar to what was seen in late June, in which the price collapsed from $1400 oz. to just under $1200 oz.

In describing what gold is signaling to the market right now, Gary noted that, “Over the last month and a half, gold deviated and started to follow the dollar down[wards], which I was afraid was a warning sign that gold would be in trouble once the dollar started to rally…and that’s exactly what has played out. The dollar rallied over the last three weeks, [and] gold turned back [down]…almost to the exact day that the dollar started this rally.“

Traditionally moving opposite the dollar, this latest development in gold according to Gary, suggests that funds are shorting in advance of another,“Typical pre-market, middle of the night hit, where you see 200 tons of gold dumped on the market with no buyers to support it…At least two big banks, I would say Goldman Sachs, JP Morgan, maybe a big hedge fund…are trying to push gold down to that support zone at around $1000. So I think they’re already short, and right now they’re letting the [reversing] dollar do the work for them.”

- Source, Bull Market Thinking, read the full story here:

Thursday, November 21, 2013

The Annihilation of the Currency

“We are facing the annihilation of currency. We are facing the shift of America as the leading and most influential nation of the world to some form of banana republic. . . . If it wasn’t for food stamps, we would be facing long lines of people waiting for free food.”

- Jim Sinclair via USA Watchdog:

Tuesday, November 19, 2013

Jim Sinclair - Gold Going to $50,000

According to Jim Sinclair of JSMineset.com, by 2016, "Gold will be $3,200 to $3,500 an ounce." By 2020, Sinclair predicts, "Emancipated gold will be $50,000 per ounce." As far as gold confiscation goes, Sinclair says that Its not going to happen, but a windfall tax could definitely be in the cards. Join Greg Hunter as he goes One-on-One with renowned gold expert Jim Sinclair.

- Source, USA Watchdog:

Sunday, November 17, 2013

Western Central Banks Continue to Dishoard Gold

Physical demand for gold and silver continues to remain incredibly strong. This comes in spite of the recent raid on the precious metals, which began on Wednesday of last week and continued into the close on Friday. The price drop began with the release of the FOMC statement. Recent history has shown, that ANY FOMC statement release is bad for gold holders. This is due to the smash in prices that inevitably seems to follow each statement release.

This FOMC statement did not disappoint in its ability to defy all logic. The FED announced that they will stick to its guns and NOT taper. That’s right, somehow the FED not curtailing its QE programs is considered gold negative? To any sane person who knows anything about the function of gold and silver, this reaction to the FOMC statement makes no sense. Copious amounts of money printing is gold positive.

Despite the manipulation that continues to plague the precious metals market, there continue to be cracks forming in the armour of the manipulators. Even as they continue to dominate the paper market, their grasp on the physical REAL market continues to slip away.

Demand for the physical metals remain fierce as the paper price artificially suppresses the cost of metals. This demand has resulted in the US Mint’s temporary inability to supply American Silver Eagles to wholesalers. A delay of four weeks is being reported with production halting on December 9th and not resuming until January 13, 2014. This has already resulted in a rise in premiums for the popular American Silver Eagles...

- Source, Sprott Money Blog, read the full article here:

Friday, November 15, 2013

It's Nearly Impossible to get a Large Position in Physical Gold or Silver

With each passing day, as the gold supply moves from West to East, people that are interested in positioning themselves in gold better hurry up and do it because there is going to come a day when it’s nearly impossible to get a large position in physical gold, or silver for that matter.

Anything I say about gold, and I’m extremely bullish on gold, you can just double that for silver. The simple fact is that silver is a materially smaller market than gold, so any significant amount of money hitting it will have a more out-sized impact.

Besides that, silver has much smaller above ground inventories and a very significant proportion of what is being dug up out of the ground is being consumed in industrial uses. So, when this thing really gets going, the silver price is just going to explode.

Thursday, November 14, 2013

Federal Reserve Whistleblower Tells America The REAL Reason For Quantitative Easing

A banker named Andrew Huszar that helped manage the Federal Reserve's quantitative easing program during 2009 and 2010 is publicly apologizing for what he has done. He says that quantitative easing has accomplished next to nothing for the average person on the street. Instead, he says that it has been "the greatest backdoor Wall Street bailout of all time." And of course the cold, hard economic numbers support what Huszar is saying. The percentage of working age Americans with a job has not improved at all during the quantitative easing era, and median household income has actually steadily declined during that time frame. Meanwhile, U.S. stock prices have doubled overall, and the stock prices of the big Wall Street banks have tripled. So who benefits from quantitative easing? It doesn't take a genius to figure it out, and now Andrew Huszar is blowing the whistle on the whole thing.

From 2009 to 2010, Huszar was responsible for managing the Fed's purchase of approximately $1.25 trillion worth of mortgage-backed securities. At the time, he thought that it was a dream job, but now he is apologizing to the rest of the country for what happened...
- Source, The Economic Collapse Blog, read the full story here:

Wednesday, November 13, 2013

Bart Chilton Resigns From The CFTC

Bart Chilton, made infamous in the precious metals community for his inability to uncover the obvious manipulation plaguing the silver market by JPMorgan has announced his departure from the ranks of the CFTC.

During the course of the silver manipulation investigation, Bart Chilton made himself appear as a champion of the cause, which garnered him the support of precious metals expert Andrew Maguire, the whistle-blower who played a major role in the investigation. Sadly, Bart’s legacy will be one of failure. He did not speak, as stated he would, about the failure of the CFTC to act in relation to this case. He also likely turned a blind eye and assisted in the closing of this case, despite ample evidence that suggested clear manipulation...

- Source, Sprott Money Blog, read the full article here:

Monday, November 11, 2013

Jim Willie - The System is Breaking Down

Jim Willie appears on the the "Plane Truth". He discusses capital controls in the United States and points out how the system is breaking down.

- Jim Willie, via Monk Radio:

Saturday, November 9, 2013

Jim Willie - Hyperinflation is Already Here!

The United States has ushered in hyper monetary inflation with the series of Quantitative Easing programs, as in QE1, QE2, Operation Twist, and QE3. My belief is no longer than hyper inflation is inevitable, since already part of current policy now. Hyper-inflation is already here!

As a result of the hostile monetary war, the USDollar and its USTBond vehicle are facing not simply opposition, but broad-based earnest organized initiatives to avoid them. The goal is to replace them in workarounds. A reset is apparently near. The pressures to install a more fair, more just, and more enduring system is enormous, and will not cease. The demand is to bring back the Gold Standard, the equitable arbiter, the true enforcer.
The demand for Gold is inelastic. As price rises, so does demand. It is called Gold Fever.

Something big is near, as the tremors are being felt in every global corner, and every global market.

- Jim Willie the Golden Jackass via The Silver Doctors:

Thursday, November 7, 2013

Central Banks Don't Have a Fraction of Their Gold

I was fascinated by those revelations last week from the central banks of Sweden and Finland, which Egon von Greyerz spoke about in his KWN interview. It’s a very powerful thing that people are becoming aware that these central banks don’t even have a fraction of the gold in their own vaults....

- John Embry via King World News:

Tuesday, October 29, 2013

China is Making a Move Against the US Dollar

While 20-year highs for the CNY may be enough for many to question the USD's ongoing reserve status, it is clear that there are many other plans afoot that undermine the dominance of the greenback. On the global financial stage, China is playing chess while the U.S. is playing checkers, and the Chinese are now accelerating their long-term plan to dethrone the U.S. dollar. You see, the truth is that China does not plan to allow the U.S. financial system to dominate the world indefinitely. Unfortunately for us, the U.S. debt spiral cannot go on indefinitely. Our debt is growing far, far more rapidly than our GDP is, and therefore our debt is completely and totally unsustainable. The Chinese understand what is going on, and when the dust settles they plan to be the last ones standing.

- Source, Zero Hedge, read the full article here:

Sunday, October 27, 2013

JPMorgan To Pay Record $13 Billion Mortgage Settlement, Criminal Case Remains

Under the guidance of Jamie Dimon, adjudged by the mainstream media to be the greatest banker the world has ever known (hyperbole accepted), a late night Friday phone call (we assume not a drunk-dial) between Attorney General Eric Holder and JPMorgan's general counsel, confirms, according to the WSJ, that JPMorgan will settle their residential mortgage bond suits with the DoJ for $13 Billion - the biggest settelement ever for a single company. Bloomberg reports that an additional $2 billion was added during the negotiations last night. Who knows: perhaps Dimon feels the same about Holder as the rest of the population and made it quite clear, at a cost of another $2 billion.

The final wording of the deal is to be finalized but as part of the deal the DoJ expects JPM to cooperate with the continuing criminal probe of the bank's RMBS issuance - which remain unresolved. The settlement is 'unsurprisingly' in line with JPM's expected litigation expenses for Q2/Q3 13 but it would appear they expect worse to come still as the total litigation reserve was recently increased.

- Source, Zero Hedge, read the full article here:

Friday, October 25, 2013

Why Gold Production is Going to Zero

In an excellent new piece entitled, “The growing 90% club and why gold production is going to go to zero”, Hinde Capital’s Co-Founder and CFO, Mark Mahaffey, asserts that it’s only a matter of time before world gold production goes to zero. That end-point is approaching quickly he implies, as the cost to pull an oz. of gold out of the ground is growing faster than ever before.

Here is an excerpt from Mark’s piece:

“If gold prices stay at the current levels for a prolonged period of time, do not be surprised if gold production falls much closer to zero. From an investor’s perspective it is a treacherous minefield. Of course, there are companies who really do have high grade ore reserves who can really claim to mine at $800/ ounce but these are very rare, maybe less than 5% of the 2000 quoted companies. The Northern Miner writes that out of their survey of 1400 Toronto listed firms, 721 currently have less than $200k cash in the treasury.

(click to enlarge)

While the big caps that make up the GDX index are unlikely to go out of business in the short term and may offer some trading opportunities for a bounce here, the very nature of this desperate business remains. Huge capital is required a long time before there is even the sniff of future cash flow. All companies can go to zero but mining companies get there much faster than most. Strangely it might well be the demise of 1000 mining companies over the next year that is the most bullish reason for the survivors.

If gold production really does fall off a cliff, the standard laws of supply and demand should be a huge positive factor for the price of gold. The sentiment in the gold market is horrendous led by the media and the price action. It is down 25% on the year. If you were looking for an asset class with a high margin of safety, (production cost) that was universally hated with no speculative long positions for a long term value portfolio allocation, you could do a lot worse than gold bullion at $1250 ounce.”

Mark also notes within the piece that:

“In the resource business where the price of gold changes by the second, there is always the possibility that in the future the price will rise above the production price and so there is an inherent call option in the stock price. Unfortunately this has to be offset by thecarrying cost of the asset. If it’s in your back garden, carrying cost is pretty minimal. If you are having to pay even skeleton salaries, keep up permitting, ownership rights, pay listing fees etc., then these carrying costs will eat in to the call option value pretty quickly.”

To read Mark Mahaffey’s article in full, visit: HindeCapital.com

-Source, Bull Market Thinking:

Wednesday, October 23, 2013

The Majority of Investments Will Decline

Gold and silver will become some of the best investments in the future as they are a store of “Economic Energy”, a term coined by Mike Maloney. On the other hand, most paper assets are not a store of this economic energy, but rather what I call, “Energy IOU’s.” Energy has to be burned to create the economic activity to satisfy and pay back these paper assets.

The world is holding onto trillions of dollars of Energy IOU’s masquerading as assets that will have no future… and the future is now here.

The U.S. economy and world are heading toward an ENERGY WALL and the majority of the public and investors are not prepared for the ramifications. Certain investments will hold their value or show significant gains, while the majority will decline.

Gold and silver will be driven up to extreme levels in the future as investors switch out of increasingly worthless paper assets and into the precious metals to protect their wealth before it evaporates.

- Source, SRSRocco:

Monday, October 21, 2013

Gold and Silver To Extreme Values

The precious metal investors are actually sitting on gold mine, and they don’t even know the real reason why this is true. Many analysts are focusing on the huge amount of debt and fiat money in the system to be invested in gold and silver, but the fundamental root cause continues to go unnoticed.

While the massive amount of debt, derivatives and fiat money are indeed excellent reasons to own the precious metals, they are the mere symptoms and not the disease itself. The advanced societies of the world were built on an economic system that can only survive if it continues to grow. Without growth, the $100′s of trillions in derivatives and debts would implode — along with it the Suburban Retail-Commercial-Housing economy.

The key ingredient that drives the growth of the world’s economies is energy. The most vital energy component of the global economy is oil. Peak oil would have come and gone, if it wasn’t for the $trillions in new debt that allowed non-commercial oil resources such as shale oil to be extracted. Basically, the U.S. and world are purchasing a percentage of oil it cannot afford.

There is a great deal of energy disinformation published on the MSM and internet. Several of the well-known alternative media analysts on the internet have been beating the drum for shale oil & gas. Even though shale energy has been a boost to the U.S. economy, it will not be long-lived — regardless of the hype and overly optimistic forecasts.

One of the most recent energy falsehoods being advertised, is that the U.S. is now the largest oil producer in the world surpassing Russia & Saudi Arabia...
- Source: SRSRocco, Read the full article here:

Saturday, October 19, 2013

Alasdair Macleod Breaks Down $680 Million Gold Order

In this episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss the EBT 'free lunch' card chaos at Walmart when an 'unlimited' benefits glitch causes card holders to pile shopping carts high with 'free' goods, while on Wall-Street, the 'free lunch' card of Quantitative Easing has caused a similar misallocation of capital into property and toxic debt instruments. Finally, they discuss the world about to shut off America's 'free lunch' card, otherwise known as the Exorbitant Privilege' of having the world's reserve currency. In the second half, Max interviews Alasdair Macleod of GoldMoney.com about the $640 million sell order of gold. They also discuss Alasdair's new theory on money supply (FMQ) and his differences with Professor Fekete, a recent guest on the Keiser Report, regarding whether or not there is deflation.

- Source, Keiser Report:

Sunday, October 13, 2013

Hierarchy of Price Fixing

In this episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss the good news for the economy as compensation payments for fraud trickles into the local economy and then they introduce the concept of the People's Price Fix and a Keiser's Hierarchy of Price Fixing. In the second half, Max interviews Professor Antal E. Fekete of FeketeResearch.com about Fed induced hyper-deflation and why the American Austrians were wrong to predict that quantitative easing would cause inflation.

- Source, Maxkeiser.com

Friday, October 11, 2013

The Implosion of Debt Will be Extremely Unpleasant

This is just the beginning. As the problems in the US and the world economy start to deteriorate in 2014, I could easily see US borrowings and the Fed’s balance sheet expanding by several trillion dollars. Eventually it will be much more than that (trillions of debt) as the dollar falls, interest rates rise, and the hyperinflationary economy starts.
But the printing of money will not have any effect (on the economy). The central banks’ policies have caused debt to expand exponentially. This has greatly enhanced the wealthy, and given the masses the illusion that they are better off, when all they have is a massive debt that can never be repaid. If we just look at the richest 1% in the US, they have an average of 20% debt vs assets. But the masses, 80% of the people, have 90% debt vs assets. This, of course, doesn’t include government debt that is also the people’s debt.
The implosion of this debt will be extremely unpleasant for the world. So I am sad to say that it will be a horrible time that the world is going to go through. It will take a very long time to unwind all of this (debt), but the start (of this unwind) could be very quick. In my view we will see a very long decline.

- Source, Egon von Greyerz via King World News:

Wednesday, October 9, 2013

Obama to Announce Janet Yellen as FED Chairman

The WSJ is reporting tonight that Obama is set to announce ultra-dove Janet Yellen as Ben Bernanke’s replacement as Fed Chairman(woman) in a Wednesday afternoon press conference.
While gold and silver have not even blinked on the news in overnight Globex/Asian trading, don’t be fooled: a Yellen nomination is MASSIVELY bullish for the metals, as Yellen’s ultra-dovish monetary policy is likely to make Helicopter Ben’s reign look like Ebenezer Scrooge has been running the Fed the past 8 years.

- Source, The Silver Doctors:

Friday, October 4, 2013

Matt Taibbi - Wall Street Hedge Funds Are Looting the Pension Funds

In his latest article for Rolling Stone, Matt Taibbi reports that Wall Street firms are now making millions in profits off of public pension funds nationwide. "Essentially it is a wealth transfer from teachers, cops and firemen to billionaire hedge funders," Taibbi says. "Pension funds are one of the last great, unguarded piles of money in this country and there are going to be all sort of operators that are trying to get their hands on that money."

- Source:

Wednesday, October 2, 2013

Jim Grant - Why I'm Bullish on Gold

Jim Grant appears on Bloomberg TV and explains how credit crisis affect the market. He also explains why he is bullish on gold.

- Source, Bloomberg:

Monday, September 23, 2013

Billionaire Predicts End of US Dollar as World's Reserve Currency

Canadian billionaire businessman Ned Goodman predicts the end of the U.S. Dollar as the world's reserve currency. He says the transition out of the U.S. Dollar will become, "...quite ugly."

- Source, Cambridge House:

Thursday, September 19, 2013

A Taper in a Teapot

This week’s meeting of the Federal Open Market Committee (FOMC) had traders, market commentators and investors almost in a frenzy as they tried to predict the outcome. This was the meeting where economists expected the Fed to announce the ‘tapering’ of its monthly purchases of $85 billion of Treasury securities and mortgage-backed bonds. According to a Bloomberg News survey of 34 economists last week, they expected the Federal Reserve to taper its monthly bond buying by $10 billion, to $75 billion.1 But they were wrong.

Market reaction was harsh when Mr. Bernanke suggested in June that it would be “appropriate to moderate the monthly pace of purchases later this year [and] continue to reduce the pace of purchases in measured steps through the first half of next year, ending purchases around mid-year”. The real damage was felt by the bond market with the yield on the 10-year note increasing from 2.16% to as high as 3%. This 39% increase in yield had bond investors facing an annual loss for only the third time in 33 years.2 However, after guiding towards a reduction in stimulus for the last four months ‘tapering’ was not to be – at least not yet.

The FOMC “decided to await more evidence that progress will be sustained before adjusting the pace of its purchases”.3 They concluded that “downside risks” to the outlook have diminished, the tightening of financial conditions observed in recent months, if sustained, could slow the pace of improvement.”4 Gold and silver rocketed upwards and the Dow Jones Industrial Average and the S&P 500 were both pushed to new all-time nominal highs. In fact, monetary accommodation in 2013 is much larger than the headlines would suggest.

According to data compiled by Bloomberg, the Fed’s balance sheet has been increasing at an average rate of $91.9 billion each month during 2013 – yes, more than the $85 billion headline number. While the Fed has been buying assets at a rate of $85 billion per month, they have also been further adding to their purchases by investing earned interest and proceeds from maturing bonds. The largest single monthly addition to their balance sheet in 2013 was during the month of April when the Federal Reserve added $114.7 billion of assets, almost $30 billion more than the stated purchases of $85 billion. These monthly additions vary given the timing of maturing bonds but the accommodation provided by the Fed is much larger than the headlines suggest.

For weeks now, gold bears have been out in force believing that ‘tapering’ would mark another leg down for gold. Given the drop in the gold price each time tapering is even hinted at, one might not be surprised at this prediction. But with tapering delayed, gold and the other precious metals appear to have found a bottom and now have limited downside.

While much ink has been spilled about ‘tapering’ of assets purchases, it now seems that this extended discussion of reducing monetary accommodation was nothing more than a ‘taper in a teapot’.

- Source, David Franklin via Sprott's Thoughts:

Tuesday, September 17, 2013

Chris Duane - Gold and Silver Manipulation Will End With a BANG

In Chris Duane's latest video he discusses how the gold and silver manipulation that has been plaguing us for years will not end with a whimper, but with a bang. Will the system have to collapse before gold and silver are set free?

Friday, September 13, 2013

Lehman Five Years On - Gold Is Still a Safe Haven

Little has changed in the financial world and on Wall Street since the collapse. Vital lessons have not been learned. The financial system remains vulnerable to excessive risk taking, unforeseen shocks and systemic risk.

It is important to note how the Lehman bankruptcy and subsequent systemic, financial and economic crises showed gold’s importance as a safe haven asset and as financial insurance in a portfolio.

Gold in dollar terms has risen 73% and silver by exactly 100% since the Lehman bankruptcy and collapse. Both have risen by similar amounts in other major currencies.

Gold rose in the years preceding the crisis when more prudent observers were warning about risks emanating from cheap money policies, overheating stock and property markets, an out of control derivatives market and the shadow banking system. A Lehman Brothers style crisis was obvious to many analysts who warned of systemic risk.

- Source, Goldcore:

Wednesday, September 4, 2013

Gerald Celente - A Golden Forecast

"Summer Trends Journal forecasts becoming a reality, currency debasements & US weighing policy options against Assad for alleged chemical weapons. Huh, doesn't that sound familiar? Just like how Saddam Hussein had weapons of mass destruction right!?"

- Source, The Trends Journal:


Monday, September 2, 2013

Citigroup See's $3500 Gold and $100 Silver

Respected Citigroup strategist Tom Fitzpatrick said in a telephone interview from New York with Bloomberg that gold and silver should surge in the coming years as the precious metals continue to benefit from the easy monetary policies adopted by central banks.

Fitzpatrick, who has a good track record, said that gold has put in a low for the year and will rise to about $1,500-$1,525/oz this year. A gain of over 6.3% from today’s prices.

He said that silver is in a strong up-trend and will likely outperform gold as the gold silver ratio will drop from its current level at 58.1.

- Source, Goldcore:

Saturday, August 31, 2013

Run on Gold to Acceralte

“J.P. Morgan keeps getting called for delivery of registered gold. Their inventories are way, way down. So we have seen a precipitous drop in registered COMEX gold, which is the category of gold that would be called away for a futures contract delivery request.
There is more gold in the COMEX system -- we have 3 tons of gold but it’s not ‘registered’ gold. So this gold is not available for delivery. But if you look at that registered category of COMEX gold warehouse stocks, it really is perilously low at this point.

So we know we have a physically tight gold market, and this has typically set the stage for higher gold prices. Investors have to take a step back and ask, ‘Why would people want to have physical gold? Why would they demand delivery?’ The reality is this is a matter of trust, or in this case a lack of trust (regarding the Western fractional reserve gold system).

So the more suspicion there is of these intermediaries, the COMEX, the LBMA, banks with structured notes, this lack of trust on the part of entities with paper claims means that they want to get their hands on their physical gold and get it out of the system. In other words, trust is breaking down in the system.

And because you have this huge pyramid of credit, which is based on a very small amount of physical gold, this run on physical gold can spread very quickly. In a way it can be like a run on the gold bank. We have seen a very slow version of this throughout the summer, but if that should pick up steam for any reason, these are the exact mechanics of why gold could spike to the upside far more than anyone is betting on right now.”

- John Hathaway via King World News, read the full interview here:

Thursday, August 29, 2013

Gold Flowing East

This gold has gone out of the system and it is not coming back to the West. This will have enormous ramifications for the gold price both in the short-term and over the long-term. The tremendous amount of physical gold and silver has now been captured by other players, and these are not entities who are the ‘fast money‘ crowd.

These are Eastern central banks and people who are trying to preserve their wealth because they know what is coming. The Chinese have been dumping large amounts of dollar holdings, and in the case of the Indian people, they are desperately trying to buy gold and silver in order to protect their savings against a falling rupee.

- Keith Barron via King World News, read the full interview here:

Wednesday, August 21, 2013

Gold Now Beginning Its Long Awaited Ascent

Has gold broken out it's recent trading range? Have we begin a new bull market?

Saturday, August 17, 2013

Indian Increases Capital Controls, Bans Gold Imports

Not satisfied with raising import tariffs on gold and putting in place jarring new FX flow capital controls, it seems the war on a weakening Rupee continues. We previously discussed the unintended consequence of such actions - including the rise of the gold smuggler - but the latest total ban on the importation of gold coins and medallions is edging India closer and closer to the Argentinian edge of Cristina Fernandez totalitarianism (after the initial ban on sales in June). In an effort to "moderate outflows" of Rupee, the Indian central bank slashed the amount of money families can send out of the country per year to $75k (from $200k) and limited overseas investment to 100% of net worth (from 400%). "We will leave no stone unturned" to control the current account deficit and stabilize the rupee, the finance minister warned; which of course removes any hope that monetary easing to revive growth will occur anytime soon.

- Source, Zero Hedge, read the full article here:

Thursday, August 15, 2013

Dollar Plunges, Precious Metals Surge

Equity markets saw their highest volume in 7 weeks as the major indices plunged the most since June 20th, falling back to their lowest level in 5 weeks. 380 new 52-week lows dominated the meager 18 new 52-week highs. The early snap higher in Treasury yields (following the claims data) sparked the 'disorderly rotation' out of stocks that we have warned of and as stocks saw no significant BTFD mentality so Treasuries went modestly bid (ending the day only 5bps higher in yield) with the belly (7Y) 8bps off its intraday high yields. The USD was smashed lower as JPY and EUR strength dominated flow (and carry-unwind) which further helped push the story of the day - gold and silver - up large on the day (+2.1% and 5.6% respectively on the day). VIX surged to 14.5%, credit underperformed, as the Dow broke its 50DMA (15,280) closing near its 100DMA (15,097). Nikkei futures are -530 From yesterday's highs

Monday, August 12, 2013

Catherine Austin Fitts - The Old System is Dying

Catherine Austin Fitts of Solari.com says, "I think bail-ins are coming . . . the big question is not will we be able to get out insured deposits. I think the big question is how violent will things get?" Fitts biggest worry is not financial collapse. She says, "I don't think the people who run the U.S. military or run the United States government are going to say we're happy to collapse rather than go to war. They are going to go to war. They're going to shake somebody down." Fitts goes on to add, "I think gold is the greatest form of insurance you can have during this transition period." Join Greg Hunter as he goes One-on-One with money manager Catherine Austin Fitts.

- Source, USA Watchdog:

Saturday, August 10, 2013

Jim Willie - Out of Control Chaos Coming with Shortages of Gold, Silver, Food and Gasoline

Publisher of "The Hat Trick Letter," Dr. Jim Willie, predicts, "In the United States, we are going to have shortages across the board, and that includes gold and silver. Just think food and gasoline. That's when the riots are going to start. You are going to see out of control chaos and the government stepping in to restore order. . . . Shortages and price inflation are going to drive people out of their minds." Join Greg Hunter for an in-depth One-on-One interview with Dr. Jim Willie.

- Source, USA Watchdog:

Thursday, August 8, 2013

Largest Silver Producers Face Losses at Current Prices

The largest silver mining company in the world just came out with their first half financial results and the figures were dismal. Fresnillo’s first half profits declined a staggering 60% compared to the same period last year. However, at current metal prices the largest silver producer in the world could be experiencing losses the second half of the year...

- Source, SRS Rocco, read the full report here:

Friday, August 2, 2013

Chris Martenson - Bankers Own the World

In every era, there are certain people and institutions that are held in the highest public regard as they embody the prevailing values of society. Not that long ago, Albert Einstein was a major public figure and was widely revered. Can you name a scientist that commands a similar presence today?

Today, some of the most celebrated individuals and institutions are ensconced within the financial industry; in banks, hedge funds, and private equity firms. Which is odd because none of these firms or individuals actuallymake anything, which society might point to as additive to our living standards. Instead, these financial magicians harvest value from the rest of society that has to work hard to produce real things of real value.

While the work they do is quite sophisticated and takes a lot of skill, very few of these firms direct capital to new efforts, new products, and new innovations. Instead they either trade in the secondary markets for equities, bonds, derivatives, and the like, which perform the 'service' of moving paper from one location to another while generating 'profits.' Or, in the case of banks, they create money out of thin air and lend it out – at interest of course.

"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."

~ Josiah Stamp – Bank of England Chairman, 1920s 

Because these institutions and individuals accumulate vast sums of money for their less-than-back-breaking efforts, they are well respected if not idolized by most. Many of the most successful paper-accumulators are household names. They get invited to the best parties, are lured by major networks to appear on their shows, speak at the biggest conferences, and their views and words find an easy path to the ears of millions.

But this is more than just an idle set of observations for the curious. It's actually a critically important phenomenon to be aware of. For the current configuration of financially powerful entities has, at the tail end of a decades-long debt-based money experiment, achieved an astonishing concentration of power, money, and influence.

We raise this topic because our work centers on changing the conversation towards the things that really matter while there is still time to engineer a better outcome, and that requires illuminating the status quo and having a conversation about whether it needs to be modified. Unfortunately, those at the center of the status quo are not at all interested in having any such conversation, because all of their accumulated power depends on maintaining things as they are.

Money is power.

And history has shown that power is never ceded spontaneously or willingly...

- Source, Chris Martenson of Peak Prosperity, read the full report here:

Wednesday, July 31, 2013

Three Reasons Why The US Dollar is Already Worthless

Long-time friend of SGT Report Jeff Nielson of Bullion Bulls Canada joins us to discuss banking cartel crimes and recent his articles '3 Reasons Why the USD is Already Worthless', and 'The Fraud and Conspiracy of Bullion-Leasing'.

- Source, SGT Report:


Monday, July 29, 2013

The Banking Cartel is Your Enemy! NOT Jim Sinclair!

Submitted by SD reader Sovereign Economist:

Having been to two of Jim’s Q&A sessions, I’ve found them enormously useful. He does say things in those sessions that TPTB would definitely not want to see on a public website. Having run an internet radio network dedicated to counteracting the MSM propaganda stream for a few years, I do understand the fine line the man has to walk. He has business and personal interests they could very easily damage hugely, were he to be considered too big a mouth…

I would also observe that Jim is not the only one to make predictions that have not panned out in relationship to timing. But, do understand that the cartel’s MO is to do everything in their power to discredit gold as a goto for financial survival. And, one of their acknowledged strategies in this pursuit is to act against the consensus of predictions in the markets they manipulate. Sinclair, whatever else you may want to say about him, is one of the more experienced and knowledgeable minds in our business. PERIOD.

Those of you you who have taken the man’s advice have not lost money. He has not said to sell your gold recently, if ever, that I can recall. He has said to ACCUMULATE it and hold it. You have no loss unless you did something he has not suggested you do. Namely, SELL IT! You have no loss until, and unless you sell. Now, if you are upset that the value of the metals you are holding is less than your cost of acquisition, then you are a trader. Jim does suggest trading. If you do trade, that puts YOU squarely in the gun-sights of the bankers that want to strip you of everything you have right down to your very LIFE. Stackers, on the other hand, are IMMUNE to the banker’s train robbery tricks.

One day, the US Dollar is going to die. And with it, a lot of people will suffer enormously. Give the man some credit for trying to avert the coming tragedy of the many at the hands of the criminals that determine the paper prices of your physical holdings. If you can’t stand the volatility of the markets, then sell down to your comfort level and forget about the metals. Jim Sinclair is NOT YOUR ENEMY. The enemy is the BANKING CARTEL. TRY TO REMEMBER THAT!

- Source, Silver Doctors:

Saturday, July 27, 2013

Ron Paul Talks Gold and Why More Detroits Are Coming

In a brief but perfectly succinct interview on CNBC yesterday, Ron Paul shared his opinion on the need to own gold (and the physical demand for the manipulated metal) and the Detroit bankruptcy ("we're going to see more Detroits"). He concludes that "long term, you can expect governments not to change" and that they’ll keep taking on more debt and printing more money until people lose confidence in both the U.S. dollar and the U.S. military, both of which will be shake the foundation of a fiat/dollar system.

- Source, Zero Hedge:

Thursday, July 25, 2013

Silver Bullet Silver Shield 1 Oz .999 Silver Warbird Round

The fifth coin design by Silver Bullet Silver Shield, challenging the design of the American Silver Eagle coin.

Here is what the coin author Chris Duane has to say about the coin design and meaning:

"The all-seeing eye is a long used symbol of the elite to spread the idea that they are all-seeing and therefore all-powerful. The truth is that they are weak parasites that need us to sacrifice ourselves to them, because they are incapable of producing any real value. The all-seeing eye is used on our dollar bill and even DARPA's Total Informational Awareness program that is the father of the Prism Scandal that Ed Snowden exposed. This symbol is the power and enabler of the elite's conspiracy of Full Spectrum Dominance.

We no longer need to fear them looking down at us. They need to fear us looking up at them and walking away from the bottom of their pyramid that we hold up.

In the Warbird, the Bald Eagle was replaced by another predator, the aptly named Predator Drone. Like Ben Franklin's opposition to the Bald Eagle being the symbol of our nation, the Predator Drone is a symbol of everything that is wrong with America today. We have become further detached from the reality of our actions to the point we don't even need to send men to nations that oppose our Debt and Death way of life.

The feathers of the Warbird are represented by the absolutely incredible, blood splatter, sculpting that the famed Sculptress Heidi Wastweet created. No other coin that I know of has used a splatter technique in sculpting a coin. This stunning representation of the real blood that is spilled by the Debt and Death Empire is even marked by her initials HW to the left of the Shield.

The Shield represents the patriotic propaganda this Debt and Death Empire hides behind. People must believe they are doing good and are given stories to use in their head to justify their active or passive participation in this Debt an Death Empire. This propaganda is mostly focused on those that make the system function. It assuages any tinges of guilt they may have with rationalizations. When that does not work, you can simply pop a pill to make the cognitive dissonance depression go away...

Read more about this amazing coin at Silver Gold Bull.com:

Wednesday, July 24, 2013

Jim Willie - The Next Financial Crisis Will Be Ten Times Larger

Dr. Jim Willie, Publisher of the Hat Trick letter, says a big upward move is coming in gold. What could be the trigger? Dr. Willie says, "It might be a default for gold delivery . . . at the same time that a big bank fails. I am hearing every single night there are three big banks that are running the risk of failure." Dr Willie predicts, "If we have another repeat of Lehman, it's going to be 10 times larger. It's not going to be containable."

- Source, USA Watchdog:


Monday, May 20, 2013

James Turk Blog: This is Going to Lead to Hyperinflation

James Turk Blog: This is Going to Lead to Hyperinflation: "My view is that we are in a fiat currency bubble, in other words currency backed by nothing. If you look at history, whenever you have...

James Turk Blog: Banks and National Currencies Have Real Risks

"The underlying and most fundamental usefulness of the precious metals remains unchanged. They are money outside the banking system. The risks of depositing money in a bank are clear from the events of Cyprus, and before that debacle, Lehman Brothers, Northern Rock and countless other bank collapses that litter the landscape of monetary history. Banks and the national currencies they use have real risks."

- James Turk via a recent GoldMoney article:

Peter Schiff Blog: Why Would You Leave Money in the Bank?

“Why would you leave any extra money in a bank to get zero percent interest. . . . I think pull your money out, put it into some kind of investment..."

- Read the full post here:


Jim Rogers Blog: Lessons In Investing

Jim Rogers Blog: Lessons In Investing: Jim Rogers joins Mamta Badkar on Business Insider. During this interview Jim Rogers shares his insights on where the market is going and...

Eric Sprott Blog: Pick up in Buying Precious Metals

Eric Sprott Blog: Pick up in Buying Precious Metals: “We have noticed that there has been a pick up in buying precious metals since the Cyprus thing happened…You can see that people aren’t stup...

Tuesday, April 16, 2013

This Gold Slam Is A Massive Wealth Transfer From Our Pockets To The Banks

"The most recent gold bear raid has vastly enriched the bullion bankers, once again, at the expense of everyone trying to protect their wealth from global central bank money printing. The central plank of Bernanke's magic recovery plan has been to get everybody back borrowing, spending, and "investing" in stocks, bonds, and other financial assets. But not equally so - he has been instrumental indistorting the landscape towards risk assets and away from safe harbors. That's why a 2- year loan to the US government will only net you 0.22%, a rate that is far below even the official rate of inflation. After the two years is up, you are up $44k (interest) but out $260k (inflation) for net loss of $216,000. That wealth, or purchasing power, did not just vanish: it was taken by the process of inflation and transferred to someone else. This explains, almost completely, why the gap between the rich and everyone else is widening so rapidly, and why financiers now populate the top of every Forbes 400 list. There is no mystery, just a process of wealth transfer of magnificent and historic proportions; one that has been repeated dozens of times throughout history."

- Source, Zero Hedge, read the full article here:

Wednesday, March 27, 2013

Paul Craig Roberts - Triple Bubble Implosion Is Coming

"Alex welcomes American economist and renowned columnist Paul Craig Roberts to examine the Cyprus bank crisis situation and America's own crumbling economy."

- Source, Infowars:

Sunday, March 24, 2013

Silver Goes Higher As Bitcoin Hysteria Shifts To Non Electronic Money

"It would appear that physical assets trump digital assets this morning in Europe as Silver has just spiked over 1% (and Gold back over $1615) as Bitcoins plunge on heavy volume... Did the Europeans run out of Bitcoins? Given the lack of movement in 'traditional' currency markets, one has to wonder just how much faith has been lost in the folding fiat fiasco."

- Source, ZeroHedge, Read the full article here:

Thursday, March 21, 2013

Only A Few Hours Of Liquidity Left - Cyprus Major Bank

It appears, based on government officials, that things are going a little critical in Cyprus. Following rumors of the closure (restructuring) of good/bad bank assets for Cyprus Popular Bank, we get this news:


- Source, ZeroHedge, read the full post here:

Friday, March 15, 2013

Wealth Inequality in America

"Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is."

Wednesday, March 13, 2013

Farage Slams Eurozone As Complete Economic Disaster

"The air is thick with denial in this chamber," is how UKIP's Nigel Farage begins his truthiness rant at the most recent European Council meeting. Reflecting on the Italian election and overwhelming success of 'Eurosceptic' political parties, Farage barks that it "is absolutely clear that Eurozone membership is completely incompatible with nation-state democracy." The complete denial (and "unutterable drivel") about the Eurozone crisis incenses him as he says "you'd think listening to everyone this morning that it's over." The real problem, he explains, is that they won't face up to the reality that "You are not facing up to the consequences for what you've done," as he tries to make the technocrats comprehend, "the Eurozone has been a complete economic disaster," because of the Euro - and the disaster is still coming down the tracks."

- Source Zero Hedge, read the full article here:

Tuesday, March 5, 2013

Jim Sinclair - QE to Infinity is the Only Tool They Have

"When I said, QE to infinity a long time before anybody else got that idea into their mind, I did it because there was only one tool in any central banks’ tool box that could create infinite amounts of money in a computer instant. And that would logically indicate that if what I expected to happen happened, then QE would be used, and ‘to infinity’ means until it no longer functions.

Infinity is only one control of QE and that’s the dollar in US activity. So as long as the dollar, because of currency wars, can remain even as a mirror image, looking not so bad, QE can continue to any amount.”

- Jim Sinclair via a recent King World News interview, read the full interview here:

Saturday, March 2, 2013

Jim Sinclair - We Are Witnessing A Historic Low In Gold

“Historically we are at an extreme low. But more so than that, when you are short you have a price objective. If you are a government you have a price objective. That price objective being reached might change the pattern of your trading.

The pattern of what’s taking place in this down market is absolutely clear: At periods every day like clockwork, when the lowest volume of trading historically takes place, the largest amount of offerings have come into the marketplace (for gold), creating a drubbing, a down (move).

Every time there is a major move in a market there will be hangers on, and they are the ones that tend to lose on both sides...."

- Jim Sinclair via a recent King World News interview, read the full interview here:

Wednesday, February 27, 2013

Financial Collapse is Inevitable

"Michael Pento of Pento Portfolio Strategies contends the open-ended Fed money printing is creating ". . . a fictitious world of artificially low interest rates." Pento says, "We need to move quickly towards a balanced budget . . . yes, it will be painful for a lot of people." If we don't change course, Pento says, "A financial collapse is inevitable . . . the free market will force this Fiscal Cliff upon us. There is no way around it." If you ever wanted to hear Mr. Pento uninterrupted and unfiltered by mainstream financial media, here's your chance. Join Greg Hunter of USAWatchdog.com as he goes One-on-One with economist Michael Pento."

- Source, USA WatchDog:

Wednesday, February 20, 2013

Those Who Have Caused Wreckage Will Not Have My Gold

"I swear those that have caused the wreckage of all things once held dear to us shall not have my gold or gold share position. Fear is no part of me, and I will face the enemy, confident in our success."

Jim Sinclair

Monday, February 18, 2013

Ending the Currency Wars with a Gold Standard

"In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss ending the currency war with a gold standard. They also look at how, since going off the gold standard in 1971, productivity gains have all gone to the one percent who create and push the paper and credit. In the second half of the show, Max Keiser talks to Jan Skoyles of the Real Asset Company about gold monetisation, renminbi internationalization and the very harsh laws against sterling devaluation."

- Source, Keiser Report:

Thursday, February 14, 2013

Jim Willie - Currency Wars and the US Dollar Rejection

"GoldMoney's Alasdair Macleod talks to Jim Willie of GoldenJackass.com, publisher of the "Hat Trick Letter". They discuss his recent article on the currency wars and the rise in non-US-dollar-based trading.

They talk about China's increasing use of yuan swaps in bilateral trade. Sanctions on Iran have led to an increase in trade settled in gold, with Willie pointing out the intermediary role of Turkey in this matter. Jim and Alasdair also discuss deindustrialisation in the United States and the subsequent destruction of capital; with Willie mentioning the mysterious outflow of gold classified as "industrial supplies" out of the US.

They discuss the pressure on the dollar due to the declining importance of the dollar in international trade, and how the US Dollar Index (USDX) is understating the true decline in the dollar's value. Willie also talks about the Treasury Bond bubble and how interest-rate swaps are supressing yields.

Finally they talk about China, and the possible introduction of a gold trade note by which gold could become the basis of trade settlement. Willie speculates about the actual non-reported amount of gold held by China."

- Source, GoldMoney:

Monday, February 11, 2013

Gold Production is Set to Plunge

"I don’t think we’re going to be finding much new gold at all. So consequently, as these existing mines get depleted and all mined out, I think production will fall dramatically, irrespective of what the gold price does. When you put that in the perspective of central banks, which have gone from being large suppliers of gold for years and years and now they are taking gold out of the market, you've had a swing of at least 1,000 tons per year in central bank activity.

When you put this into the context of a market that’s only about 4,000 tons per annum, and then you add to this the fact that future gold production is literally set to plunge, I think there is no choice but for the price of gold to go ballistic on the upside. It’s just a matter of how long these paper shenanigans can continue. Once these (paper shenanigans) are over, and they will certainly be over at some point, the price will go up by multiples of the current level.”

- John Embry via a recent King World News interview, read the full interview here:

Friday, February 8, 2013

Artificial Debt Market

Jim Rogers appears on Fox Business, where he discusses the absurdity of low interest rates in the United States. He also speaks about the unstable artificial debt markets in the United States and says it cannot last forever. Of course he is not selling any gold and silver anytime soon.

- Source, Fox Business News:

Monday, February 4, 2013

Argentina Freezes Prices Inflation Spiral Out of Control

"The price freeze applies to every product in all of the nation's largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains.

Polls show Argentines worry most about inflation, which private economists estimate could reach 30 percent this year. The government says it's trying to hold the next union wage hikes to 20 percent, a figure that suggests how little anyone believes the official index that pegs annual inflation at just 10 percent.

The government announced the price freeze on the first business day after the International Monetary Fund formally censured Argentina for putting out inaccurate economic data. The IMF has given Argentina until September to bring its statistics up to international standards, or face expulsion from the world body in November."

- Source:

Friday, February 1, 2013

Kyle Bass - Remember Zimbabwe

by Zero Hedge

"Amid the euphoria of today's crossing of the Dow's Maginot Line at 14,000, Kyle Bass provided a few minutes of sanity this morning in an interview with CNBC's Gary Kaminsky. Bass starts by reflecting on the ongoing (and escalating) money-printing as the driver of stock movements currently and would not be surprised to see them move higher still (given the ongoing printing expected). However, he caveats that nominally bullish statement with a critical point, "Zimbabwe's stock market was the best performer this decade - but your entire portfolio now buys you 3 eggs" as purchasing power is crushed. Investors, he says, are "too focused on nominal prices" as the rate of growth of the monetary base is destroying true wealth. Bass is convinced that cost-push inflation is coming (as the velocity of money will move once psychology shifts) and investors must not take their eye off the insidious nature of underlying inflation - no matter what we are told by the government (as they will always lie when its critical). Own 'productive assets', finance them at low fixed rates (thank you Ben), and finally, on HLF, don't bet against Dan Loeb."

- Source, Zero Hedge and CNBC:

Wednesday, January 30, 2013

We're Gonna See the Price of Siver With a Zero Behind It

The SGT Report interview Jeff Nielson of Silver Gold Bull. Jeff makes a prediction that I can most certainly coming true in the course of the next few years. Jeff says, "We're Gonna See the Price of SILVER With a Zero Behind It". This could happen much sooner than many people believe. The time to invest in silver is now if you haven't already done so.

- Source, SGTReport: