Must Read...

Gold, Silver SOAR, Gold Cartel In Shambles / PM Shares On The Move … Finally
By: Bill Murphy, Le Metropole Cafe, Inc.

 

 

Things That Make You Go Hmmm.... Such As A Venezuelan Dictator Bringing Down The Global Gold Cartel

A few days ago we penned "As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?" in which, logically, we wondered if the unwind of the great gold cartel, whose purported price manipulation has always resided in the domain of paper, or confidence-based, precious metals, may have started from the most unexpected source: Venezuelan "dictator" Hugo Chavez who just announced that he will not only nationalize the country's gold industry but reclaim his physical gold (however much of it may exist) from custodians such as JP Morgan and Bank of Nova Scotia. The practical implications of this move are substantial- since then gold has seen record high after record high. Whether one attributes these moves to Chavez, or to yet another global "risk-flaring" episode is unclear. Luckily, Grant Williams, author of the always entertaining "Things That Make you Go Hmmmm", provides some very fascinating observations on this very interesting topic...

 

 

UBS' George Magnus On Marxist Existential Crises And The "Convulsions Of A Political Economy"

Well over two months ago we first reminded the Marxists of the world that something big may be coming over the horizon in "Attention Marxists: Labor's Share Of National Income Drops To Lowest In History" a theme, whose violent reprisals in the real world we have been observing since before the Arab Spring began (courtesy of the Fed of course).  Lo and behold, suddenly the coolest thing among the post-sophist punditry is to bring up the name of Marx for this and for that, because, guess what -  he was right all along or something. Where were these same pundits when Marxist postulates were becoming apparent not only across the past year, but past century, we wonder. That said, one analysis that does merit mention is that by UBS George Magnus, who several days ago does the most comprehensive summary of the modern world through the lens of Marxism. His conclusion is spot on: "We have had a gathering crisis of political economy this year, which is partly about economic growth and jobs, but also and importantly, about a malaise in politics and policymaking, in which governments are seen as unwilling, unable, divided or ineffective when it comes to economic management and stability. It’s this resistance or backlash against the political order that runs through the propagation of the political economy convulsions around the world, including, in extremis, the uprisings through North Africa and the Middle East." Granted this is not at all surprising, nor is it odd considering that all that central planning under the modern monetary system has done is to perpetually push off disasters, with each increasingly frequent subsequent one hitting with greater severity until not all the money printing in the world can save the modern broken socio-political (and economic) framework. But everything in due course. And yes, expect many more references to Marx by hollow econo-historians who bring nothing new to the table and merely stampede in where the herd has already boldly gone before.

Guest Post: Need for Economic Crimes’ Nuremberg-Type Trials

Those of us who are history buffs, specifically World War II, including events that preceded and postdated that war (1937-1947), tend to look at the Nuremberg Trials (1945-6) with different degrees of criticism.  One does not need to be a legal scholar to realize that much of the Nuremberg proceedings simulated more a lynching party, or a guillotine exhibition, than a trial conducted according to universal precepts of common law.  The defendants, prisoners of war, were not allowed to challenge the fairness of the judges, nor were they given the right to appeal.  Many of the crimes for which they were charged, and convicted of, had been and were being committed by the accusers, or their governments; at times such crimes falling under retrospective law.  And, to top it all, the trials were conducted under their own, and unchallengeable, rules of evidence. Yet, even if History ultimately renders the Nuremberg Trials as illusory justice, or even a mockery of justice, the argument will remain strong that an important purpose was served by these trials: placating the demands for justice of a bleeding continent which had shed 40 million lives and experienced ruinous destruction; even if in reality it was a victors’ justice, it was by most accounts a remarkable improvement over past historical situations where post-war resolution usually amounted to no more than vengeance over an entire nation or people.











Market Analysis: How to Prepare for "Economic Depression"
By: The Gold Report





$5,000 Gold and $200 Silver Predicted
By: The Gold Report and Rob McEwen 





Gold enters the early stages of a parabolic upswing
By: Peter Cooper 






Prepare for the Global Long Wave Extinction Event
By: David Knox Barker





Paper Currencies Finally Redeemed for Gold
By: John Browne, Senior Market Strategist at Euro Pacific Capital










International Forecaster August 2011 (#6) - Gold, Silver, Economy + More
By: Bob Chapman, The International Forecaster





The Recession of 2011?
By: John Mauldin, Millennium Wave Advisors










Roubini, Marx, and Keynes
By: Gary North

"Education is what you get from reading the small print. Experience is what you get from Not reading it."

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