from King World News:
With
gold at $1,780, silver solidly above $35 and oil above $108, today King
World News interviewed John Embry, Chief Investment Strategist of the
$10 billion strong Sprott Asset Management. Embry went into detail
about where he sees gold, silver and oil headed next, but first he had
this to say: “The Greeks can now lose their gold because of a default.
It’s appalling what they are trying to jam down the Greek public’s
throat. This deal is ludicrous and this thing has as much chance of
succeeding as I have of being on the moon next week. Therefore, the
cartel will now have the Greek gold, it’s a travesty.”
John Embry continues: Read More @ KingWorldNews.com
With
gold at $1,780, silver solidly above $35 and oil above $108, today King
World News interviewed John Embry, Chief Investment Strategist of the
$10 billion strong Sprott Asset Management. Embry went into detail
about where he sees gold, silver and oil headed next, but first he had
this to say: “The Greeks can now lose their gold because of a default.
It’s appalling what they are trying to jam down the Greek public’s
throat. This deal is ludicrous and this thing has as much chance of
succeeding as I have of being on the moon next week. Therefore, the
cartel will now have the Greek gold, it’s a travesty.”John Embry continues: Read More @ KingWorldNews.com
Impartial Analysis Finds Only Ron Paul Would Cut US Debt Burden
When one puts aside all the histrionics, all the melodrama, all the irrelevant secondary bullshit such as appearance, charisma, ability to tele-evangelize, all the irrelevant policies such as what planet the US should colonize or how women should procreate, and focuses on just one thing: which presidential candidate (not to mention president) will do the right thing for America, which is to make sure that it doesn't collapse under a record debt load, there is just one answer. And it is not even ours: it comes from the impartial Committee for a Responsible Federal Budget Project, aka US Budget Watch ("U.S. Budget Watch neither supports nor opposes any candidate for office. Its reports are intended to promote understanding and discussion of the federal budget and how specific policy proposals would affect the deficit") which today released an analysis on debt sustainability titled "The GOP Candidates and the National Debt." The answer is in the chart below.Kung-Fu Analyst Reggie Middleton Karate Chops the Troika’s Numerical Farce in the Face!
silver imports into India/Greece/Bank of America mortgage putbacks/Sprott silver arrives/
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 2 hours ago
Good
evening Ladies and Gentlemen:
Gold closed the comex session up $14.90 to finish at $1784.90 (1:30
pm). Silver sensed trouble at the comex inventory levels and responded
in kind rising by $1.30 to $35.44. I would like to report on some
strange behaviour with respect to the CME reporting on the front
February open interest. At 1:30 pm yesterday, the CME reported 94
contracts open. Early
Greek Gold, Renting out the Acropolis, Gold and Silver Battle on the COMEX
The Doc at SilverDoctors - 3 hours ago
Today's animated metals update discusses the confiscation of Greek Gold,
interviews a Greek citizen about the Greek debt repayment plan and touches
on the COMEX Gold and Silver battle that is now underway.
Read more »
SD Reader's First Hand Account from Greece
The Doc at SilverDoctors - 5 hours ago
SD reader *Crazy Canuck* writes about what his relatives are experiencing
in Greece today.
My wife has several close friends living in and around Athens and a few
other places in Greece. They recently told us that, *Several of them who
have jobs in various fields( civil servants, hotel staff, engineers,
laborers, mechanics) have not been paid for several weeks to several
months. *
Read more »
Feast or Famine
Dave in Denver at The Golden Truth - 5 hours ago
It's famine time for most people in this country, but the bankers and
financiers who feasted on fraud during the last decade are now feasting on
the avalanche of corruption that has hit our system at the highest levels
of Government (see MF Global and Solyndra, for example).
I wanted to do a quick follow-up on yesterday's post with some more data.
First, based on NAR data - which we know is typically bloated with
overstatement - the median home price in this country has hit a new 10-year
low (median = half of all sales are above that level and half are below)
LINK I have a feel... more »
by Eric Sprott & David Baker, Sprott.com:
2012 is proving to be the ‘Year of the Central Bank’. It is an exciting celebration of all the wonderful maneuvers central banks can employ to keep the system from falling apart. Western central banks have gone into complete overdrive since last November, convening, colluding and printing their way out of the mess that is the Eurozone. The scale and frequency of their maneuvering seems to increase with every passing week, and speaks to the desperate fragility that continues to define much of the financial system today.
The first major maneuver took place on November 30, 2011, when the world’s G6 central banks (the Federal Reserve, the Bank of England, the Bank of Japan, the European Central Bank [ECB], the Swiss National Bank, and the Bank of Canada) announced “coordinated actions to enhance their capacity to provide liquidity support to the global financial system”.1 Long story short, in an effort to avert a total collapse in the European banking system, the US Fed agreed to offer unlimitedUS dollar swap agreements with the other central banks. These US dollar swaps allow the other central banks, most notably the ECB, to borrow US dollars from the Federal Reserve and lend them to their respective national banks to meet withdrawals and make debt payments. The best part about these swaps is that they are limitless in scope – meaning that until February 1, 2013, the Federal Reserve is, and will be, prepared to lend as many US dollars as it takes to keep the financial system from imploding. It sounds absolutely great, and the Europeans should be nothing but thankful, except for the tiny little fact that to supply these unlimited US dollars, the Federal Reserve will have to print them out of thin air.
Read More @ Sprott.com
2012 is proving to be the ‘Year of the Central Bank’. It is an exciting celebration of all the wonderful maneuvers central banks can employ to keep the system from falling apart. Western central banks have gone into complete overdrive since last November, convening, colluding and printing their way out of the mess that is the Eurozone. The scale and frequency of their maneuvering seems to increase with every passing week, and speaks to the desperate fragility that continues to define much of the financial system today.
The first major maneuver took place on November 30, 2011, when the world’s G6 central banks (the Federal Reserve, the Bank of England, the Bank of Japan, the European Central Bank [ECB], the Swiss National Bank, and the Bank of Canada) announced “coordinated actions to enhance their capacity to provide liquidity support to the global financial system”.1 Long story short, in an effort to avert a total collapse in the European banking system, the US Fed agreed to offer unlimitedUS dollar swap agreements with the other central banks. These US dollar swaps allow the other central banks, most notably the ECB, to borrow US dollars from the Federal Reserve and lend them to their respective national banks to meet withdrawals and make debt payments. The best part about these swaps is that they are limitless in scope – meaning that until February 1, 2013, the Federal Reserve is, and will be, prepared to lend as many US dollars as it takes to keep the financial system from imploding. It sounds absolutely great, and the Europeans should be nothing but thankful, except for the tiny little fact that to supply these unlimited US dollars, the Federal Reserve will have to print them out of thin air.
Read More @ Sprott.com
Biderman’s Daily Edge 2/23/2012: Finding Success While World Economies Shrink
Doug Wead on MSNBC 02/23/12
by Chris Powell, GATA:
Dear Friend of GATA and Gold (and Silver):
It has been almost a year since a federal court jury in North Carolina convicted Liberty Dollar founder Bernard von Not Haus of what seems to be considered a sort of counterfeiting for issuing his own gold and silver coins and advocating their use as currency. The U.S. attorney prosecuting von Not Haus called him a “terrorist.” Hyperbolic as that was, federal authorities lately are hurling that term at anyone who contemplates gold’s use as currency.
GATA considered von Not Haus’ conviction mistaken as a matter of law and on May 31 last year filed a brief with the court seeking reconsideration:
Read More @ GATA.org
Since
at this point US society is irrevocably split into two camps, on one
hand those who believe Keynesian propaganda, where the only cure for
unsustainable debt is more debt, and on the other those who believe
that a return to a gold standard is the only way to prevent an epic
socio-political collapse, also known in official US circles as "extremists", and since we know that the status quo will
never let the latter get their way without a fight (quite literally
and quite violently), it is only logical that 'if you can't beat them
you have to join them'. In which case we believe that instead of
breaking windows, or starting wars, or even expecting a growth boosting
alien invasion that would lead to a surge in GDP that may or may not
come, one should not only go for broke, but do so in style. As such we
propose that the US, already the world's most expansionist and
aggressive foreign policy power, not like there is anything wrong with
that of course - it is all for the sake of liberating oppressed foreign
oil, should one up itself and build the true symbol of its
contemporary socio-historical status: the Imperial Death Star. Yet the
real benefit in addition to blowing up various alien world that refuse
to bail out the world's central bank confederacy, is that the cost of
construction of said Keynesian masterpiece, would be an epic $852 quadrillion, which in turn would go straight to US GDP.
Dear Friend of GATA and Gold (and Silver):
It has been almost a year since a federal court jury in North Carolina convicted Liberty Dollar founder Bernard von Not Haus of what seems to be considered a sort of counterfeiting for issuing his own gold and silver coins and advocating their use as currency. The U.S. attorney prosecuting von Not Haus called him a “terrorist.” Hyperbolic as that was, federal authorities lately are hurling that term at anyone who contemplates gold’s use as currency.
GATA considered von Not Haus’ conviction mistaken as a matter of law and on May 31 last year filed a brief with the court seeking reconsideration:
Read More @ GATA.org
Don’t Get Fooled Again on Iran
Guest Post: The Greek Tragedy And Great Depression Lessons Not Learned
Greece has been the most pillaged
country in Europe this Depression, among other reasons, because no one
in any leadership position seems to have learned lessons from the 1930s.
Plus, banks have more power now than they did then to call the shots.
Despite no signs of the first bailout working – certainly not in
growing the Greek economy or helping its population - but not even in
being sufficient to cover speculative losses, Euro elites finalized
another 130 billion Euro, ($170 billion) bailout today. This is
ostensibly to avoid banks’ and credit default swap players’ wrath over
the possibility of Greece defaulting on 14.5 billion Euros in bonds.
Bailout promoters seem to believe (or pretend) that: bank bailout debt +
more bank bailout debt + selling national assets at discount prices +
oppressive unemployment = economic health. They fail to grasp that
severe austerity hasn’t, and won’t, turn Greece (or any country)
around. Banks, of course, just want to protect their bets and not wait
around for Greece to really stabilize for repayment.
A Modest Proposal To Boost US GDP By $852 Quadrillion: Build The Imperial Death Star
Since
at this point US society is irrevocably split into two camps, on one
hand those who believe Keynesian propaganda, where the only cure for
unsustainable debt is more debt, and on the other those who believe
that a return to a gold standard is the only way to prevent an epic
socio-political collapse, also known in official US circles as "extremists", and since we know that the status quo will
never let the latter get their way without a fight (quite literally
and quite violently), it is only logical that 'if you can't beat them
you have to join them'. In which case we believe that instead of
breaking windows, or starting wars, or even expecting a growth boosting
alien invasion that would lead to a surge in GDP that may or may not
come, one should not only go for broke, but do so in style. As such we
propose that the US, already the world's most expansionist and
aggressive foreign policy power, not like there is anything wrong with
that of course - it is all for the sake of liberating oppressed foreign
oil, should one up itself and build the true symbol of its
contemporary socio-historical status: the Imperial Death Star. Yet the
real benefit in addition to blowing up various alien world that refuse
to bail out the world's central bank confederacy, is that the cost of
construction of said Keynesian masterpiece, would be an epic $852 quadrillion, which in turn would go straight to US GDP. 
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