Loading ...You realize that every bearish call you have made wrt Gold has been wrong….consistantly for a long time now..I could pull up the calls and embarass you but cant be bothered
Make your case in a post here or shut it down…you make a fool of your self
we are all willing to listen to your analysis
Hollywoodgold wanted to shoot another picture of the Oatmeal King…But he wanted me in makeup and wardrobe for an hour first…I said Let’s..Go with the old stupid picture…
Take a fling at buying some shares of the world’s largest private printer of paper currency. Up nicely in the recent past.
www.forexlive.com/blog/2012/05/14/shares-in-worlds-largest-private-money-printer-surge/
Irish Banks May Tip State Into Bailout 2, Deutsche Bank Says
By Joe Brennan – May 18, 2012 9:46 AM ET Ireland may be forced into a second bailout by mounting loan losses in its banking system, according to Deutsche Bank AG.
Ireland’s bailed-out banks may need capital to cover as much as 4 billion euros ($5.1 billion) more bad-loan provisions than assumed in stress tests last year, Deutsche Bank analysts David Lock and Jason Napier said in a report published today.
“A new, even modest, increase in capital requirements could deter sovereign investor participation and tip the balance in favor of the sovereign requiring a second loan program,” the Deutsche Bank analysts said.
Ireland’s government, which sought a bailout in 2010, has injected about 63 billion euros into its banks in the past three years. The government’s plan for new personal insolvency laws introduces risks even as politicians and the financial regulator seek to avoid widespread residential mortgage debt forgiveness, Deutsche Bank said.
“Although resilient during 2009 and 2010, mortgage arrears have risen sharply over the past year, house prices are continuing to fall, market liquidity is limited, and over half of customers are now in negative equity,” the analysts said. “We fear the size of negative equity balances for some mortgage holders may greatly reduce their incentive to cooperate, pushing them towards default.”
Ireland’s largest 10 consumer lenders, including four overseas-owned banks, lost around 117.8 billion euros on soured loans in the four years through December, according to data compiled by Bloomberg News. Deutsche Bank today downgraded Bank of Ireland (BKIR), the only Irish lender guaranteed in 2008 that has avoided state control, to sell from buy.
more at harveyorgan.blogspot.com/
Top is in. Expect a few days of chop…then the barn door closes. You’re in a Swan Dive.
MUX. Only a 1.97 to go…and then it will rest.
The CoinGuy
Watch me pull a rabbit out of my hat..oops wrong hat
How do you ever bet against McEwen? He is simply the best in the business. In 08′ the stock got down to around $.70 but that was without the Minera production. If by some miracle it gets there again, I’ll sell everything and buy MUX.
Mining (MUX) is one of my favorite stocks that I think has outstanding potential in the long run (see my previous coverage). The short story is that great management, operating in scenarios where they have a track record of success, sufficient capital and the support of strong investors/joint venture partners, is something I’ll always find to be a potentially worthwhile investment opportunity. McEwen Mining fits that description perfectly, and so I think it is a stock that has a bright future.
From that perspective it’s still buying season on the stock, as it has given back more than all of the gains it had accrued this year. The chart below illustrates.
(Click to enlarge)
I’ve been at the New York Hard Assets Conference the past few days, and McEwen Mining is one of the companies presenting here. I had a chance to speak with company representatives about the large short interest in the firm: Over 8% (22 million shares) of the total outstanding shares are being shorted. The representative I spoke with stated that the large short position was likely the result of hedge funds employing a long gold/short gold exploration stocks type of hedging strategy. He further stated that McEwen or one of the directors and officers of the firm would likely be buying shares back were it not for some restrictions placed on insider activity around news releases. I’m not familiar with the rules and regulations placed upon corporate officers, but the idea of a buyback is always reassuring to long-term, buy and hold bulls.
The representative also stated that many of the long-term shorts short position was likely in place before U.S. Gold and Minera Andes had merged into McEwen Mining. U.S. Gold was a stock with a market capitalization below $500 million, and thus is conducive toward hedge funds that seek to push and control the price; the market is small enough to make this feasible. If the shorts have been around this long, I think they may be able to hang around much longer – perhaps until the company can issue meaningful dividends, which would dissuade shorts as they would need to cover those dividends. To understand how far off that is, we’ll need to take a closer look at MUX’s anticipated production. See the chart below.
(Click to enlarge)
MUX currently has one mine in production in Argentina (their operations in Argentina may also be discounted over concerns regarding nationalization), but production won’t really ramp up into high gear until 2015, as the chart above illustrates. If the chart above comes true and MUX is producing over 250,000 gold equivalent ounces by 2015, and the gold price is sufficiently above $2,000, the company may be able to start to issue some dividends. McEwen has expressed a pro-dividend policy, so it is something the firm finds to be consistent with its long-term vision and its goal of creating shareholder value.
From this perspective, I think MUX investors need to be patient – perhaps even more so than the rest of the precious metals community. The shorts seem determined, but with higher metal prices and substantially greater production, dividends can be used to throw shorts off. Till then, long-term investors who remain believers in the opportunity the firm has can use the shorts to their advantage by buying extreme sell offs. Personally, I’ve already got a sufficient amount of MUX in my portfolio for my taste, although if price falls to $2.15, I may simply find it too cheap to not add more.
Disclosure: I am long MUX.
but-but-but, how do I say this? Uh, isn’t Goldboom about 92 years old??? Surely, you would have to give him more than a couple strokes for each nine holes! You do want it to be a fair game don’t you? Just Saying!
Keep up the good pushin and will look forward to the pictures! 
Yep, ole Bart has certainly been a wolf in sheeps clothing – talks a great game – yet nothing has happened in the last three or four years he has been yapping. Just another CROOK like all the rest of them.
Silverboom out there pushing paid off.
Gorgeous day, temps in the mid-70s and the course in perfect shape. 90 year old Goldboom almost skinned the younger Silverboom, only losing by a mere two strokes for 9 holes; final tally 51 – 49. Silverboom attributes his poor performance to an extended layoff and two balls in the water, both without intent. Goldboom, ever the aggressive competitor, knocked 10 strokes off his score earlier in the week to almost take Silverboom out. But not quite….down by 4 at one point, Silverboom rallied on the final five holes to recover the lead. Not much of a triumph, but it was mucho funno (we are both bilingual)
We’ll be out pushing again on Monday, getting an early run at it: tee time is 8:45 am. By the time we finish, we expect gold to be up a minimum of $15, with silver north of a 60 cent gain.
We’re doing our part, and it is hard work, no doubt about it. But we feel a sense of serious obligation to fellow Tenters to finally set these precious metals markets right.
Photos to follow during the weekend.
32 minutes ago
By JIM KUHNHENN
Associated Press
(AP:CAMP DAVID, Md.) Leaders of the world’s economic powers say Germany should balance its push for European fiscal austerity with doses of stimulus spending to avoid a financial calamity with global repercussions.
The Group of Eight leaders, meeting over the weekend at the Camp David presidential retreat, are trying to figure out how to tame Europe’s debt crisis while also increasing the demand for goods and spurring job growth.
In talks Saturday, President Barack Obama and leaders of Germany, France, Canada, Italy, Britain, Russia, and Japan were looking to build consensus even though a decisive plan of action seemed out of reach right now.
The G-8 session sets the stage for a far more consequential European summit next week where the countries that share the euro as their currency hope to come together on specific steps to fight rising debt while spurring a recovery.
Obama established the tone for the G-8 on Friday after meeting with just-elected French President Francois Hollande, when he said the aim of the summit was to promote both fiscal consolidation and a “strong growth agenda.”
The two leaders, Obama said “agree that this is an issue of extraordinary importance not only to the people of Europe but also to the world economy.”
In a hint of the pressures facing the leaders, Obama greeted German Chancellor Angela Merkel at Camp David and asked her how she was. Merkel, facing resistance over her austerity push, shrugged.
“Well, you have a few things on your mind,” Obama said.
A central economic topic, though hardly the only one confronting Europe, is the fate of Greece. That country is facing the most acute financial crisis of the eurozone and is set to hold elections June 17 to end political deadlock. At issue is whether Greece abandons the euro to escape austerity measures.
Hollande, after meeting with Obama at the White House, said, “We share the same views, the fact that Greece must stay in the eurozone and that all of us must do what we can to that effect.”
Also on the agenda is energy as the world looks to the oil markets in advance of fresh penalties set to take effect on Iranian oil exports. While oil prices have been falling, major oil importing countries, including the U.S., are keeping a wary eye on prices and keeping open the possibility of tapping their own oil reserves.
For Obama, Europe’s fate is critical to his own political survival. An economic recession that spreads to the U.S. could damage an already slow recovery and boost the argument by his Republican challenger, Mitt Romney, that the United States economy needs new leadership.
There is a get-acquainted aspect to the session as well.
The Camp David gathering, the largest collection of foreign leaders ever at the presidential retreat, is the first G-8 meeting for Hollande, for Italian Prime Minister Mario Monti and for Japanese Prime Minister Yoshihiko Noda. In what has been widely viewed as a snub, Russian President Vladimir Putin is skipping the G-8. He sent Prime Minister Dmitry Medvedev in his place.
The meeting comes at a turning point in Europe.
Elections in France and Greece have signaled defiance toward the fiscal austerity measures that Merkel has pushed for the most indebted eurozone countries. European countries are straining under high borrowing rates. The drastic cuts in spending and government layoffs were designed to address massive national debts but they have also caused short-term economic distress and joblessness.
On Friday, Spain’s central bank announced that the level of bad loans on the books of Spanish banks was at an 18-year high. That added to concerns about the financial sector in the eurozone’s fourth-largest economy.
The emphasis on economic growth has been welcomed by Obama, who has argued that the stimulus steps he took in 2009 put the U.S. on the road to recovery.
“Europe is still in a difficult state,” Obama told donors in Seattle last week, “partly because they didn’t take some of the decisive steps that we took early on in this recession.”
To what degree the Europeans, and Merkel in particular, agree remains to be seen.
“With Hollande coming into play here, there is going to be a lot of pressure on Germany, not just from Hollande and Obama, but also some of the other countries _ Italy and UK _ some pressure for Germany to push more toward growth within Europe because they have to get them on board,” said Jeffrey Bergstrand, a former federal reserve economist and now an expert on international finance at the University of Notre Dame.
U.S. officials have been encouraged by recent discussions in Europe to ease up some belt-tightening so that spending cuts aren’t as deep or as swift and to increase spending on public works projects like roads and schools in weaker parts of Europe. They also point to Germany’s recent decision to negotiate higher public sector wages, a move they say could have a positive ripple effect on demand.
Merkel herself has made conciliatory gestures, saying in a television interview this week that she was open to helping stimulate the Greek economy provided Greece honored pledges to shrink its debt.
I’m shocked!!!! You mean the CFTC is going to provide cover for the manipulators? Shocking turn of events, and all this time I thought the “good guys” like supposed good guy Bart Chilton were going to clamp down. Yet there he is, participating in a 5-0 vote.
I need some of those restless rednecks from Aquila’s town. Enough is enough.
we shall stand and ‘they’ shall fall…along with homey-boy-suck-urity!
and notice our classic lampost lines compared to ‘thier’ hi-tech big bro intrusive cameras and speakers and heat sensors and nitrate sniffers and worse of all ‘their’ ADVERTIZMENT panals….makes one want to re-locate to the carribean! 
wj
Thanks for posting that video. After watching, I did dome research on Cashill. I found his writings to be astounding as well as competently researched and documented. The guy does not arrive at any conclusion that is not accompanied by credible documentation. He is like a forensic historian dealing with only materials that have been released and acknowledged by the O and his handlers.
Eye opening to say the least. It fully demonstrates that MSM is nothing but trash. The obvious structure of lies upon which O stands is so obvious, that the O propaganda can only be believed by those who have decided to support O regardless of reality.
The U.S. Commodity Futures Trading Commission proposed easing part of Dodd-Frank Act regulations limiting speculation in oil, natural gas, wheat and other commodities after industry groups said the original rules were onerous.
The CFTC’s five commissioners voted 5-0 in private to propose changing how companies aggregate trading positions when they have ownership stakes in other firms, the agency said in a statement today. The agency proposed raising to 50 percent from 10 percent the threshold for when a company is considered to have an ownership or equity stake in another firm and must add trading positions.
The proposal, which is open to public comment, would affect so-called position limits that were completed by the CFTC in October as part of an effort to reduce excessive speculation in commodities. The limits, which cap the number of contracts a trader can have in a market, prompted a lawsuit by the International Swaps and Derivatives Association Inc. and the Securities Industry and Financial Markets Association.
“I support the commission’s proposed rules that, among other things, expand the exemptions relating to information sharing restrictions, expand the circumstances under which market participants will not be required to aggregate positions,” Jill E. Sommers, a Republican commissioner, said in a statement today.
The agency proposed revising the rules following requests from lobbying groups representing agriculture and energy firms including ConocoPhillips (COP), Archer-Daniels-Midland Co. (ADM) and
“Absent actual relief from the aggregation requirements of the position limit rules, commercial firms likely will have to significantly reorganize their existing commercial operations,” the Working Group of Commercial Energy Firms said in a Jan. 19 petition. “These actions may include the restructuring or disposition of investments in joint ventures.”
A person with between a 10 percent and 50 percent ownership or equity stake in another company would be able to leave the positions separate if the trading strategies can be demonstrated to be independent, according to the CFTC.
The limits would still require companies to add their trading positions when they are under “common trading control,” Bart Chilton, a Democrat commissioner, said in an e- mail today.
“What the rule does is provide commercial companies with an investment that is less than 50 percent of the total shares in another company the ability to disaggregate their positions with those held by the company they’ve invested in, as long as there is no common trading control,” Chilton said.
The CFTC’s original rule was approved on a 3-2 vote on Oct. 18 after more than a year of debate and 13,000 comment letters from supporters such as Delta Air Lines Inc. (DAL) and opponents including Barclays Capital.
The case is International Swaps and Derivatives Association v. U.S. Commodity Futures Trading Commission, 11-02146, U.S. District Court, District of Columbia (Washington).
Ah, the desperation! In the words of William Shakespeare, “I see thee yet, in form as palpable.”
Not only does the PPT NEVER allow the Dow to fall sharply two days in a row, but given that today is a FRIDAY – and the debut of the much ballyhooed Facebook IPO – plus, Europe is on the verge of ECONOMIC ANNIHILATION – it was imperative to prevent another overnight market plunge. There is simply too much fear in the air to allow investors to spend the weekend worrying about a market crash – and potentially acting on such fears Monday. Plus, the government COULD NOT allow anything to delay the Facebook IPO – with its $176 million of fees to insolvent underwriters like Morgan Stanley, JP Morgan, and Goldman Sachs.
Unfortunately, the market didn’t initially co-operate, with PIIGS stocks opening sharply lower, foreboding a potentially cataclysmic end of the week. Thus, TPTB were yet again called into action, reaching deep into their “bag of tricks” to find a magic elixir to save the day. This bag has essentially become an “EMPTY SACK,” as all major weapons (other than outright currency HYPERINFLATION) have been expended, but there are still some fumes remaining to power a few last ditch efforts.
One of my favorites is the ULTIMATE in overt MARKET MANIPULATION, short-selling “bans” on selected stocks. Any sane person realizes such an action indicates those stocks are in SEVERE TROUBLE, and thus, the bans will only serve to fuel speculation of bankruptcies. However, in TPTB’s unrelenting goal of “kicking the can down the road,” they continue to “rinse and repeat.” Here’s what happened when the SEC banned the short selling of financial stocks on September 18, 2008 – while covertly encouraging shorting of miners, of course. After an initial 20% knee jerk increase, the sector plummeted 50% in the next three weeks…
…and here’s what happened when the ECB banned shorting of European financial stocks on August 12, 2011. The chart below depicts the French bank index, which “round-tripped” to its pre-ban level in just one week…
…and here’s what they did in the ensuing six weeks, with France’s largest bank – BNP Paribas – plummeting 40%…
…Germany’s largest bank – Deutschebank – plunging 32%…
…and Spain’s largest Bank – Santander – down 25%.
Lo and behold – with European stocks plunging in today’s early trading – a “rumor” of another financial stock short-selling ban circulated, magically saving the day. Not that European indices are tearing it up – they are roughly flat as I write at 9:15 AM EST – but the fact that such “rumors” came about proves the desperation – and short-sightedness – TPTB are currently experiencing. I wrote last night that “The Big One” – i.e. Global Meltdown III – had already begun, and this pathetic “rear-guard” action only heightens the confidence of my convictions. In other words, time is running short to settle your financial affairs, and POSITION YOURSELF for what’s coming ahead.
Short Selling Ban Returning To Insolvent European Countries Near You
While still railing on the stupidity of European bureaucrats – not to single them out versus inept American, Japanese, and Chinese bureaucrats – let’s take a look at the first official action of the newly nationalized Bankia SA, Spain’s fourth largest bank. Given Goldman Sachs’ role in destroying Greece by manipulating its balance sheet with derivatives – and consequently that it has been all but BANNED in numerous European nations…
Europe freezes out Goldman Sachs
…what better firm to hire to value your balance sheet than Goldman Sachs? Seriously, you really can’t make this stuff up, and if there was ANYONE remaining with even a glint of hope that Spain could be “saved,” I’m guessing there isn’t any more…
Spain hires Goldman Sachs to value Bankia: report
Ah, Europe, a cesspool of broken banks and governments on the verge of fragmenting as the U.S.S.R. before it – and the U.S.A. in the future – literally imploding before our eyes. Here are comments from Alexis Tsipras of the recently elected ultra-left party Syriza, essentially mocking the ECB by telling them Greece will RENEGE on ALL its debt if they are not given further financial aid with PRINTED, TAXPAYER FUNDED – via accelerated inflation – EUROS…
Defiant Message From Greece
…causing LAME DUCK MERKEL to immediately kowtow – as if ANYONE is listening to this political failure anymore…
Softening, Merkel Says She Is Open to Stimulus for Greece
…particularly the GERMAN PEOPLE – last weekend!
Merkel’s CDU Trounced In Most Populous State Elections Over Austerity; Pirates Strong
And here’s how stocks are doing in NON-MANIPULATED stock markets – unlike the PPT-supported “DOW JONES PROPAGANDA AVERAGE” – with nearly all international markets down, led by the European PIIGS…
Rest-Of-World Equities Rapidly Going Red Year-To-Date
…which are also suffering from dramatic increases in short-term funding costs, yielding a heightened likelihood of a new “LTRO 3″ announcement, and/or significantly heightened funding requirements from the Federal Reserve’s “swap facility.” Ah, the “swap facility,” which the Fed does not count as “official” money printing, instead terming these obvious BAILOUTS as “swaps”…
Europe Is Knock, Knock, Knocking On Chairman’s Door
Here in the United States of World Destruction, I couldn’t even imagine “Goldman Hank” Paulson’s replacement as Treasury Secretary could be worse, but leave it to “Hope and Change” Obama to prove me wrong. Tim Geithner doesn’t understand how we could possibly have another debt ceiling debacle less than a year after last summer’s fiasco, which not only resulted in a stripping of the nation’s – ridiculously undeserved – AAA rating, but nearly catalyzed an all-out financial collapse.
Geithner Comes Clean: “I Don’t Understand It”
And how about this article, on how Chinese car dealer “channel stuffing” has resulted in a “debilitating” 45 days of inventory, yielding sharp price decreases. Just last week, I railed yet again against the “WORLD’S WORST COMPANY” – 27% U.S. government-owned (and more via its puppet Warren Buffett) General Motors. Government Motors recently pushed “channel stuffing” to a RECORD HIGH in the storied company’s 112-year history, at an astonishing 86 days! I wrote last month of how my wife and I just received 10% reductions in lease costs for our new cars – identical to what we leased three years ago – noting how deflation indeed affects items you “WANT VERSUS NEED.”
As The Chinese Car “Channel Stuffing” Bubble Pops, “Debilitating Price Cuts” Arrive
As I write at 9:45 AM EST, the Dow has gone flat, and most European indices are clinging to their largely unchanged statuses for dear life. The PPT will obviously try to pump the opening of Facebook as some type of “bullish event,” but NOTHING they do – in my opinion – can stop the commencement of Global Meltdown III.
Encouragingly – although it’s still early – PM’s have followed through yesterday’s strong gains, breaking one of the Cartel’s major rules – “All great days must be followed by horrible days.” Gold is up $19 – knocking on the door of the KEY ROUND NUMBER of $1,600/oz – with an early attempt at the “CARTEL HERALD” just below that level…
…while silver is experiencing the same Cartel resistance as it knocks on the door of the ROUND NUMBER of $29/oz…
…and Euro gold prepares to retake its 200 DMA, as PHYSICAL buying looks ready to overtake the Cartel’s PAPER forces (per Jim Willie’s timely commentary earlier this week). Remember, gold is traded not just in dollars, but nearly 200 other fiat currencies. This is why it is nearly impossible to hold it down everywhere at once, per the “CIRCULAR LOGIC” I discussed last month…
PROTECT YOURSELF, and do it NOW!
Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service, and competitive pricing, we aim to EARN your business.
2008 Redux?
This morning, I read an excellent article by Chris Martenson, about a very timely topic…
Chris Martenson: “We Are About To Have Another 2008-Style Crisis”
As far as I’m concerned, Global Meltdown III – i.e. “the Big One” – has ALREADY STARTED, with the only exception being the U.S. PPT’s maniacal obsession with masking public PERCEPTION by supporting the “DOW JONES PROPAGANDA AVERAGE,” at any cost (particularly during an election year). European and Asian stock markets are plunging and sovereign bonds crashing, while even PPT-supported American financials have not been immune. Actually, the fact that TBTF banks like Bank of America, Goldman Sachs, and Morgan Stanley are approaching their Global Meltdown II lows despite the Dow’s “relative strength” should tell you all you need to know – let alone, the carnage going on at JP Morgan resulting from 1) fallout from the MF Global fiasco, and 2) its recent, multi-billion dollar “hedging” losses.
The quote below gives Martenson’s prediction as to what will occur this time around, which I agree with wholeheartedly, particularly the bolded section:
The central banks will once again attempt to ride to the rescue with gargantuan liquidity measures. However, this time won’t work as in 2008, in my estimation. I see central banks being near the end of their ability to influence developments at this point. More liquidity will affect different asset classes differently, and for the first time raise real (and valid) concerns about the wide-scale debasement we are witnessing across the world’s major fiat currencies.
You see, 2008 was about the global realization that banks had overleveraged themselves, the d?nouement of a decade of abuses following the 1999 repeal of the Glass-Steagall Act. The principal culprits were mortgage-backed securities linked to the collapsing housing bubble, but the infiltration of risky OTC derivatives – such as Credit Default Swaps – was likely a far bigger influence.
Sovereign nations had been experiencing weak real growth for years – following collapse of the global technology bubble and the post- 9/11 recession – but were not yet considered in danger of financial collapse. Thus, PERCEIVED sovereign strength – coupled with temporary commodity deflation – enabled Central banks to leverage up their own balance sheets with PRINTED MONEY, resulting in the below chart depicting exponential “balance sheet growth.”
Mind you, this chart only accounts for the period through October 2011 -thus, excluding the ECB’s “LTRO 1″ and “LTRO 2″ operations; the Fed’s “swap facility” and “Operation Twist”; two rounds of QE from both Japan and the UK; and reserve requirement reductions in China – let alone whatever covert activities have been undertaken, such as the suspicious U.S. Treasury buying by the bankrupt UK and ambiguously named “Caribbean Banking Centers.”
Of course, I put “balance sheet growth” in quotes because what was actually being “purchased” were TOXIC ASSETS at inflated prices – you know, to bail out TBTF entities. Thus, many of the “assets” above were mispriced at the time of purchase, and that was 2008-09. Since then, the GLOBAL economy and housing markets have dramatically worsened – while gasoline prices, irrespective, reached ALL-TIME HIGHS – so the value of such “assets” is now significantly lower. Heck, the “LTRO 1″, “LTRO 2″, and Fed “swap facility” funded sovereign bond purchases – not accounted for on this chart – are underwater already, particularly the enormous amount of Spanish and Italian government bonds purchased by already “zombified” banks.
By the way, when commodities declined in 2008, gold and silver DID NOT fall due to “deflation fears” or “liquidity pressures.” For example, if “all assets were declining,” why were U.S. Treasuries soaring? I mean, the MSM logic was people needed cash to pay off debt, so why would they be buying Treasury securities – particularly when PRECIOUS METALS have historically been the best asset class during periods of deflation? Treasuries are DEBT INSTRUMENTS OF AN INSOLVENT ENTITY – printing presses notwithstanding – while gold is simply MONEY, as it always has been. True, decades of PROPAGANDA have obfuscated this message, but not enough to cause the ULTIMATE MONEY to be sold during a time of peak crisis. Which is where the fraudulent, naked shorting, fractional nature of the PAPER suppression scheme came in.
What I witnessed in late 2008 was the same Cartel PAPER manipulations as always – made easier by the fearful nature of other markets, coupled with a lack of global understanding of gold’s historical role care of the aforementioned PROPAGANDA. Remember, Central banks were cumulatively still dishoarding gold in 2008 – excepting the Chinese, Indians, and Russians – and the average person had never heard of Precious Metals as an investment alternative. Irrespective, at the end of Global Meltdown I, in February and March 2009 – when the Dow fell 30% and banks like Citigroup, Wachovia, and Washington Mutual were bankrupted or nationalized – PHYSICAL gold and silver demand EXPLODED, pushing gold up to $1,000/oz for the first time EVER, and with it silver and mining stocks. In fact, PHYSICAL prices never fell close to the levels seen in PAPER gold and silver, as premiums EXPLODED from the surging demand for REAL MONEY AT ANY PRICE.
This time around, it is practically “common knowledge” those same banks are zombies, kept afloat ONLY by non-stop “ZIRP”/”LTRO” liquidity and fraudulent accounting rules. However, the banks are not the principal issue today; instead, it is the SOVEREIGN NATIONS, keeping both their banks and themselves afloat with the aforementioned, fatally flawed policies. Per the above commentary, sovereigns – including their “ringleader,” the United States – put their own credit on the line in 2008-09 to “kick the can down the road,” but unfortunately, the road has reached a dead end. Inflation has rocketed higher due to the 2008-09 MONEY PRINTING ORGY, assets on the sovereign balance sheets have gone bad – and would be much worse if not for QE – and their cumulative debt has far surpassed the “point of no return.”
As we speak, national debt levels are shifting from exponential to parabolic growth, soon to go hyperbolic unless RENEGED on or HYPERINFLATED away. Greece will be the first example of such as a decision being made – likely on June 17th, following its next chaotic round of elections – and it is hard to imagine similar decisions NOT being made throughout Europe this year, particularly in “collapsing PIIGS” like Portugal, Italy, and Spain.
Once this occurs, THE MARKET will make some decisions of its own, pricing in the inevitable “decisions” of “Big Kahunas” like France, the UK, Japan, and – finally – the United States. When THE MARKET gets involved, the Cartel will be DESTROYED, just as the London Gold Pool in 1968, as well as ALL attempts to suppress PMs in favor of fiat currencies throughout history. When this process commences – be it later this year, or at the latest next year (in my view) – what I spoke of in last week’s RANT, “SUPPLY SHORTAGES LOOMING,” will come to pass. Gold will surge through $2,000/oz like a knife through hot butter, and silver will complete the “ULTIMATE QUADRUPLE TOP BREAKOUT” at $50/oz, and then some. Unfortunately, per David Schectman’s sage words in yesterday’s Miles Franklin Daily Gold & Silver Summary:
…your wealth can increase and at the same time your standard of living can fall and that is where we are all headed. The worse case scenario is to lose you money and try and deal with the crushing inflation and social unrest that will accompany it.
In other words, this is not something I “look forward” to – other than for the hollow vanity of being proven right – but something I fear; for myself, my readers, and billions of the world’s inhabitants.
PROTECT YOURSELF, and do it NOW!
Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service, and competitive pricing, we aim to EARN your business.
No, not that it; this is the moment of victory for Obummer.
An upper-middle class couple came into the Quinta yesterday. Two years ago they bought some PMs and PM shares. They regret doing so, despite my “insurance” stand.
But what is really telling is that they are adamant that Obummer is a great man, doing his best against a combined demo/reb alliance against him. The 410 – 0 vote against his finance bill was the ultimate proof.
Her words were, “he will have to become a dictator to overcome the alliance”. A communist dictator would be better than the existing bunch of crooks.
Then today I see this link on ZeroHedge:
www.zerohedge.com/news/guest-post-face-genocidal-eco-fascism
My argument of his abandonment of his pre-election promises and the people who put him up there was of no consequence. The fact that his health bill was written by lobbyists and he was probably not aware of all its implications was rubbished. They think he developed the concepts.
The fact that many of his appointees to unelected but powerful Czar positions, are principals of the same lobbyists groups. These people are answerable to nobody???
The TSA, FEMA and all these groups are assets to the country???
Once again, I repeat my personal pride in being associated with the Ron Paul Delegates and helpers. Thank you my friends, and more power to your elbows.
Regards, Rich
One hand in my pocket and the other one is postin’ on Goldtent
Kind of makes you go hmmmmmmmm
Former Hawaii elections clerk Tim Adams has now signed an affidavit swearing he was told by his supervisors in Hawaii that no long-form, hospital-generated birth certificate existed for Barack Obama Jr. in Hawaii and that neither Queens Medical Center nor Kapi’olani Medical Center in Honolulu had any record of Obama having been born in their medical facilities.
Adams was employed at the City and County of Honolulu Elections Division from May 2008 through September 2008.
His position was senior elections clerk, overseeing a group of 50 to 60 employees responsible for verifying the identity of voters at the Absentee Ballot Office. It was in this capacity that Adams became aware of the search for Obama’s birth-certificate records.
“During the course of my employment,” Adams swears in the affidavit (viewable in full as part 1 and part 2), “I became aware that many requests were being made to the City and County of Honolulu Elections Division, the Hawaii Office of Elections, and the Hawaii Department of Health from around the country to obtain a copy of then-Senator Barack Obama’s long-form, hospital-generated birth certificate.”
As he inquired about the birth certificate, he says, his supervisors told him that the records were not on file at the Hawaii Department of Health.
“Senior officers in the City and County of Honolulu Elections Division told me on multiple occasions that no Hawaii long-form, hospital-generated birth certificate existed for Senator Obama in the Hawaii Department of Health,” Adams’ affidavit reads, “and there was no record that any such document had ever been on file in the Hawaii Department of Health or any other branch or department of the Hawaii government.”
Tim Adams, former senior elections clerk for Honolulu
In a recorded telephone interview, Adams told WND that it was common knowledge among election officials where he worked that no long-form, hospital-generated birth certificate could be found at the Hawaii Department of Health.
“My supervisor came and told me, ‘Of course, there’s no birth certificate. What? You stupid,’” Adams said. “She usually spoke well, but in saying this she reverted to a Hawaiian dialect. I really didn’t know how to respond to that. She said it and just walked off. She was quite a powerful lady.”
conservativebyte.com/2011/01/hawaii-official-now-swears-no-obama-birth-certificate/
grin – I’m with ya. Pain and suffering is worth the 20 bagger. Who would have thought all these years later we’d be saying that.
flg – whatever it is will of course be total B.S. I just hope it’s bullish for our pm’s. We’re due.
RT….Russian TV ….is the only Media Outlet that is exposing Totalitarian Ploys in the USA such as this one
Wanka….a different kind of Lampost
America welcomes a new brand of smart street lightning systems: energy-efficient, long-lasting, complete with LED screens to show ads. They can also spy on citizens in a way George Orwell would not have imagined in his worst nightmare.
With a price tag of $3,000+ apiece, according to an ABC report, the street lights are now being rolled out in Detroit, Chicago and Pittsburgh, and may soon mushroom all across the country.
Part of the Intellistreets systems made by the company Illuminating Concepts, they have a number of “homeland security applications” attached.
Read More
In a bombshell revelation of the depth of the food police state that now exists in LA County, California, NaturalNews has learned that the LA County health department has unleashed door-to-door raw milk confiscation teams to threaten and intimidate raw dairy customers into surrendering raw milk products they legally purchased and own.
According to Mark McAfee (see quotes below), both LA County and San Diego county have attempted to acquire customer names and addresses from Organic Pastures (www.OrganicPastures.com) for the sole purpose of sending “food confiscation teams” to customers’ homes to remove the raw milk from customers’ refrigerators. Using both phone calls and home visits, these teams intimidate customers and try to force them to give up their milk.
Read More @ NaturalNews.com
The G-8 will probably come up with some BS about how they are going to come up with a fund to encourage GROWTH in the EU countries so that they can grow their way out of the problem along with austerity. blah-blah-blah
I figure about 2000 % I will call it even for the 12 yrs of a buse.
Pretty nice action in the metals but would’ve liked to see more upside from the pm stocks. I guess just not going down is good enough for now – especially in a weak SM.
Might be an interesting weekend with the G-8 meeting. Wonder what they’ll come up with to save the Eurozone again. They’re going to have to devise a new term for QE and LTRO. Gold is getting wise to it.
