Chris Martenson And Harvey Organ: Get Physical Gold & Silver
Harvey
Organ has been analyzing the bullion markets closely for decades. The
quality and accuracy of his work is respected enough to have earned him
an invitation to testify before the CFTC on position limits for
precious metals back in 2010. And he minces no words: gold and silver
prices are suppressed. With extreme prejudice. In this detailed
interview, Harvey explains to Chris the mechanics how of he sees this
manipulation occurring, why he predicts this fraudulent pricing scheme
will collapse soon, and why it's critical to be holding physical (vs
paper) bullion when it does.Things That Make You Go Hmmm - Such As A Power Struggle (To The Death) Within China's Power Elite
For
those who have not been following the Bo Xilai drama unfolding with
furious pace over the past month, we have some advice: you should be,
as the fate of China will be defined by who is left standing at the
end, which in turn will have momentous consequences for the entire
Developed World. But where does one start? Luckily, Grant Williams'
latest TTMYGH has one simple plot line: presenting the past, present and
future of the epic power struggle between Wen Jiabao and Bo Xilai
which has already claimed at least on death, and within China's top
power echelon, the Politburo Standing Committee. "This week’s edition
of Things That Make You Go Hmmm..... is a little different to those
that have come before it in that it is more of a murder
mystery/whodunnit and focuses on the machinations behind a very
significant power struggle currently raging in the shadowy world of
China’s ruling party. For those amongst you who like tales of drunken
British businessmen, unexplained deaths, cyanide poisoning, swift
autopsies, mysterious political figures, Lady Macbeth-type wives and
police chiefs fleeing for their lives - read on. For those of you who
prefer less sensationalist tales..... well read on anyway - this one’s a
doozy!" Krugman Rebutts (sic) Spitznagel, Says Bankers Are "The True Victims Of QE", Princeton-Grade Hilarity Ensues
At first we were going to comment on this "response" by the high priest of Keynesian shamanic tautology to Mark Spitznagel's latest WSJ opinion piece, but then we just started laughing, and kept on laughing, and kept on laughing...The Cost Of Twisting (And The "Housing Recovery"): $100 Billion In Foregone NIM To The Primary Dealers
When
Operation Twist began in late September 2011, Primary Dealers reported
that their net position in bonds with a maturity between 1 and 3 years
was ($23) billion or the biggest short since January 2010, while
reporting holdings of bonds between 11 and 30 years of $12.4 billion,
for a net carry position (Short minus Long) of $(35) billion. What a
difference just over 6 months makes: courtesy of Treasury Primary Dealer
data, we now know that in the preceding weeks, with the Fed selling
paper maturing in under 3 years, the Primary Dealers have loaded up to
the gills on short-dated maturities, and in the week ended April 11,
they reported $54 billion in 1-3 Year Holdings. At the same time 11-30
Year Maturities declined from othe $12.4 billion at the start of Twist
to just $7 billion: don't forget - this is the only type of bonds sold
by the Fed (if also including short maturities than the explicit
long-end that the Fed is buying). What is interesting is that with
nearly 80% of Twist over, the 10 Year was at just under 2.00% the day
Twist started, and was....just shy of 2.00% on Friday. In other words
in order to "sterilize" the Fed's duration extension, keep rates, and
the price of gold, low and promote a "housing recovery" Dealers have been "forced" to part ways with about $100 billion in Net Interest Margin generating units, as the Short minus Long position has risen from -$35 billion to +$54 billion, hitting over $60 billion a few weeks ago. The Most Surprising Chart Of Q1 Earnings Season So Far
22%
of the Q1 earnings season (by market cap) is over, and anyone
listening merely to soundbites and reading media headlines would likely
think that stocks have soared as a result of a relentless parade of
beats. One would be mistaken. In fact, as the chart below shows, there
is something very wrong with this earnings season...Using Fear-Induced Churn To Build Tommorrow's Profits
Pessimism and fear reign as the gold stocks test previous resistance as
support. Previous resistance was massive resistance zone of the 30-year
consolidation broken in 2010. What do I think? I think long-term capital
recognizes the importance of this breakout. 2012 retest, a period in which
gold and gold stocks will have been pronounced dead numerous times, will be
viewed...
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The French Presidential Election Is Underway
Update: according to Belgian Le Soir, first exit polls show that Hollande is not surprisingly ahead, with 27% of the vote, 25.5% for Sarkozy, 16% for Marine Le Pen, and 13% for Jean-Luc Melenchon. More or less just as expected, and setting the stage for the runoff round which will be Hollande's to lose. French speakers demanding a minute by minute liveblog, can find a great one over at Le Figaro.
As
of 8 am CET, polls are open in the first round of the French
presidential elections where voters are expected to trim the playing
field of ten to just two candidates, incumbent Nicholas Sarkozy and his
socialist challenger Francois Hollande, who will then face off in a May
6 runoff, where as of now Hollande is expected to have a comfortable
lead and take over the presidency as the disgruntled French take their
revenge for an economy that is contracting, an unemployment rate that
keeps rising (see enclosed) despite promises to the contrary, and as
their to "express a distaste for a president who has come to be seen as
flashy following his highly publicized marriage to supermodel Carla
Bruni early in his term, occasional rude outbursts in public and his
chumminess with rich executives.....France is struggling with feeble
economic growth, a gaping trade deficit, 10 percent unemployment and
strained public finances that prompted ratings agency Standard &
Poor's to cut the country's triple-A credit rating in January." In
a major shift for the country, Hollande would become France's first
left-wing president since Francois Mitterand, who beat incumbent Valery
Giscard-d'Estaing in 1981. As Reuters reports, "Hollande, 57,
promises less drastic spending cuts than Sarkozy and wants higher taxes
on the wealthy to fund state-aided job creation, in particular a 75 percent upper tax rate on income above 1 million euros ($1.32 million)." The Buffett Rule may have failed in the US but La Loi de Buffett is alive and well in soon to be uber-socialist France. Yet
it is not so much Hollande's domestic policies, as his international
ones, especially vis-a-vis the European Fiscal Treaty, Germany, and most
importantly the ECB, that roiled markets last week, causing French CDS
to spike to the widest since January. In other news, goodbye Merkozy, hello Horkel as the power center shifts yet again to a new source of uncertainty and potential contagion.Trained to identify resistors
If anyone -- anyone! -- has ever questioned the public school system, you
must watch this video clip.
This clip features an interview with Charlotte Iserbyt, who served as
senior policy adviser in the Office of Educational Research and Improvement
(U.S. Dept of Ed) in the first Reagan administration. What she saw there
caused her to become a whistleblower and ultimately to write the book The
Deliberate Dumbing Down of America [full disclosure: haven't read it].
During interview, she relates how she had access to all the documents for
the "restructuring" of not only American educati... more »
Gold Is Not Dead
Market experts continue to pronounced gold as "dead" and primed for another
sharp, elevator-shaft style decline. These declines, highly coordinated and
professionally executed during the D-wave cycle, tend to be preceded by
sharp contractions in the relative (real) lease spreads. That's the dead
give away a paper attack is coming; The dotted read lines in the chart
below shows the sharp...
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Money Flowing Into Gold and Silver on Weakness
Money has been flowing into silver and gold as they bounce along the
bottom. Chart 1: Silver London P.M Fixed and the Silver Diffusion Index
(DI) A gold DI reading > 60% suggests statistical concentrated (again).
Chart 2: Gold London P.M Fixed and Gold Diffusion Index (DI) Normal 0
MicrosoftInternetExplorer4 /* Style Definitions */ ...
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French elections tomorrow/Spanish and Italian 10 yr yields again rise/gold and silver hold
Good
morning Ladies and Gentlemen:
Gold closed today up $1.50 to $1642.10. Silver also rose by 13 cents to
$31.64.
Europe was enthralled with German confidence higher together with a
higher PMI number. This lit a match under the Euro and all of Europe's
bourses which in turn spilled over to the NYSE, However on the other
side of the coin, the Spanish 10 yr bond yield hit 6% early in the
Trader Dan on KWN Weekly Metals Wrap
Please click on the following link to listen in to my regular weekly radio
interview with Eric King on the KWN Weekly Metals Wrap.
*http://tinyurl.com/6oxs2dh*
Currency Wars: Rickards On Gold, QE, and the Economy
Where Do We Go From Here?
We
present our favorite chart of 2012 (now freshly updated and with that
new, NINJA subprime-loan subsidized, car smell) without any further
commentary.The Truth About Excess Reserves
Throughout the postwar period, banks have almost always lent out all
the way up to the reserve requirement. So, does the accumulation of
excess reserves lead to inflation? Only so much as the frequentation of brothels leads to chlamydia and syphilis.
Excess reserves are only non-inflationary so long as the banks — the
people holding the reserves — play along with the Fed-Treasury game of
monetising debt and trying to hide the inflation . The banks don’t have to lend these reserves out, just as having sex with hookers doesn’t have to lead to an infection. But eventually — so long as you do it enough — the condom will break. As soon as banks start to lend beyond the economy’s inherent productivity (which lest we forget is around the same level as ten years ago) there will be inflation.
Live From Athens: "You've Got To Pick A Pocket Or Two"
The focus has shifted. The all seeing orb is now focused on Spain but
it may well turn back to Greece soon. The loan money is exhausted again
and the Greeks have elections lined up on Sunday, May 6 which is
coincidentally the same day of the French run-off elections. To answer
the question of at what point Greece might leave the Eurozone and return
to the Drachma is relatively simple; it will be the day when the
European loan spigot is shut off. Greece will pander, promise and
proclaim until that point and then they will say, “have a nice day and
thanks for all the fish.”
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