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 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, 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: