from KingWorldNews:
On the heels of Spain announcing plans to borrow $266.5 billion next year, today Michael Pento writes about how the massive money printing is impacting key markets, and what to expect going forward. Pento has been incredibly accurate regarding his predictions of central bank moves. He now warns, “… investors should never fight a central bank that has pledged to do everything in their power to prop up asset prices.”
Michael Pento writes exclusively for King World News to let readers know what to expect from central planners, and how it will impact the economy and key markets. Here is Pento’s piece: “Stock markets around the world continue to levitate, despite the fact that the fundamentals behind the global economy continue to deteriorate.”
Michael Pento continues @ KingWorldNews.com
Stansberry Radio welcomes its first ever female guest, RT America anchor Lauren Lyster. Lyster is the host of Capital Account – one of the most popular economic shows on the Internet. This isn’t the normal Q&A debate listeners are used to hearing… you won’t want to miss the game we played with Lauren!
from Silver Vigilante:
Jobs at the US Mint are always safest in the midst of Quantitative Easing.
Especially monumental QE’s to infinity. With major industrial nations
racing each other to the bottom of the ocean in a printing free-for-all,
it is likely that the amount of ocean explored will quickly rise from
10%, as monetarists the world over greet themselves in a scuba diving
orgy of once strong, now drowned, nations. Anyway, the US Mint posted
some of its strongest sales of the year, although sales are down from a
year ago. The US Mint’s American gold and silver eagle bullion coins reached
their second highest monthly total for the year in September, as higher
monthly totals were only reached in January, a month traditionally
strong for sales. September 2012 saw 3,255,000 1 oz. American Silver
Eagle bullion coins sold, up 13.41% from the prior month, making
September the second consecutive month to see an increase in sales. The
September 2012 total is below the September 2011 total, when 4,460,500
coins were sold. Supply shortages have not been a problem as they were
in the run-up to $50 silver in spring of 2011.Read More @ Silver Vigilante
Bill Moyers: ALEC, the Secretive Corporate-Legislative Body Writing US Laws
from LewRockwell.com:
Don Miller talks to Lew Rockwell about the real nature of the American regime. Who was behind the murders that changed the course of America? You can read Don’s powerful article Pursuing Truth on the Kennedy Assassinations, here.
Click HERE to Listen to the Audio
by Mike Krieger, via TheAlexJonesChannel:
The Amber Lyon story is just the latest in a series of articles that expose the total Joseph Goebbels like censorship rampant in mainstream media today. The first one I posted several weeks ago exposed how the NY Times basically just regurgitates whatever government officials tell them, while the other showcased how an NPR reporter covering D.C. had to leave and do her own thing out of frustration. This is precisely why alternative media sites are taking off. They provide the only outlets left for genuine journalism.
So back to Amber. Back in March 2011, CNN sent a four person team to Bahrain to cover the Arab Spring. Once there, the crew was the subject of extreme intimidation amongst other things, but they were able to record some fantastic footage. As Glenn Greenwald of the UK’s Guardian writes in his blockbuster article from today:
“In the segment, Lyon interviewed activists as they explicitly described their torture at the hands of government forces, while family members recounted their relatives’ abrupt disappearances. She spoke with government officials justifying the imprisonment of activists. And the segment featured harrowing video footage of regime forces shooting unarmed demonstrators, along with the mass arrests of peaceful protesters. In sum, the early 2011 CNN segment on Bahrain presented one of the starkest reports to date of the brutal repression embraced by the US-backed regime.
Despite these accolades, and despite the dangers their own journalists and their sources endured to produce it, CNN International (CNNi) never broadcast the documentary. Even in the face of numerous inquiries and complaints from their own employees inside CNN, it continued to refuse to broadcast the program or even provide any explanation for the decision. To date, this documentary has never aired on CNN International.
Having just returned from Bahrain, Lyon says she “saw first-hand that these regime claims were lies, and I couldn’t believe CNN was making me put what I knew to be government lies into my reporting.”
The Amber Lyon story is just the latest in a series of articles that expose the total Joseph Goebbels like censorship rampant in mainstream media today. The first one I posted several weeks ago exposed how the NY Times basically just regurgitates whatever government officials tell them, while the other showcased how an NPR reporter covering D.C. had to leave and do her own thing out of frustration. This is precisely why alternative media sites are taking off. They provide the only outlets left for genuine journalism.
So back to Amber. Back in March 2011, CNN sent a four person team to Bahrain to cover the Arab Spring. Once there, the crew was the subject of extreme intimidation amongst other things, but they were able to record some fantastic footage. As Glenn Greenwald of the UK’s Guardian writes in his blockbuster article from today:
“In the segment, Lyon interviewed activists as they explicitly described their torture at the hands of government forces, while family members recounted their relatives’ abrupt disappearances. She spoke with government officials justifying the imprisonment of activists. And the segment featured harrowing video footage of regime forces shooting unarmed demonstrators, along with the mass arrests of peaceful protesters. In sum, the early 2011 CNN segment on Bahrain presented one of the starkest reports to date of the brutal repression embraced by the US-backed regime.
Despite these accolades, and despite the dangers their own journalists and their sources endured to produce it, CNN International (CNNi) never broadcast the documentary. Even in the face of numerous inquiries and complaints from their own employees inside CNN, it continued to refuse to broadcast the program or even provide any explanation for the decision. To date, this documentary has never aired on CNN International.
Having just returned from Bahrain, Lyon says she “saw first-hand that these regime claims were lies, and I couldn’t believe CNN was making me put what I knew to be government lies into my reporting.”
from 21stCenturyWireTV:
Bahrain’s Shia opposition says a teenage protester has been killed in violent clashes with police in the capital Manama. Police fired tear-gas and stun grenades to disperse demonstrators, who were throwing stones and petrol bombs. The West will always turn a blind eye to real repression in Bahrain. They have been demanding equal rights from the Sunni monarchy for over a year now. RT talks to to Patrick Henningsen, who is a geopolitical analyst for the “UK Column”, a current affairs newspaper and website.
from TruthNeverTold :
Bahrain’s Shia opposition says a teenage protester has been killed in violent clashes with police in the capital Manama. Police fired tear-gas and stun grenades to disperse demonstrators, who were throwing stones and petrol bombs. The West will always turn a blind eye to real repression in Bahrain. They have been demanding equal rights from the Sunni monarchy for over a year now. RT talks to to Patrick Henningsen, who is a geopolitical analyst for the “UK Column”, a current affairs newspaper and website.
from TruthNeverTold :
by Kurt Nimmo, InfoWars:
Despite engaging in a shouting match with Bibi Netanyahu before a congressional delegation in Jerusalem last month, the U.S. ambassador to Israel, Dan Shapiro, told The Times of Israel on Thursday the United States and Israel are on the same page.
“We’re totally focused on the same goal, which is preventing Iran from acquiring a nuclear weapon. We’re in the closest possible consultations at the highest levels of our government,” Shapiro said after Netanyahu made his “red line” speech at the United Nations. “We’re absolutely focused on achieving that goal together. And we’ve been very well coordinated until now and I think we will remain very well coordinated.”
During the address, Netanyahu demanded the U.S. and the international community establish a red line that if crossed by Iran would result in an attack. The Israeli prime minister said the United States and Israel will attack “before Iran completes the second stage of nuclear enrichment where it’s a few months away or a few weeks away from amassing enough enriched uranium to make a nuclear weapon.”
Read More @ InfoWars.com
[Ed. Note: MSM says that Iran is cyber-attacking our big banks? What's even scarier is that 90% of people believe "news" like this from ABC...sounds like we need another war, folks!]
from MOXNEWSd0tC0M:
Despite engaging in a shouting match with Bibi Netanyahu before a congressional delegation in Jerusalem last month, the U.S. ambassador to Israel, Dan Shapiro, told The Times of Israel on Thursday the United States and Israel are on the same page.
“We’re totally focused on the same goal, which is preventing Iran from acquiring a nuclear weapon. We’re in the closest possible consultations at the highest levels of our government,” Shapiro said after Netanyahu made his “red line” speech at the United Nations. “We’re absolutely focused on achieving that goal together. And we’ve been very well coordinated until now and I think we will remain very well coordinated.”
During the address, Netanyahu demanded the U.S. and the international community establish a red line that if crossed by Iran would result in an attack. The Israeli prime minister said the United States and Israel will attack “before Iran completes the second stage of nuclear enrichment where it’s a few months away or a few weeks away from amassing enough enriched uranium to make a nuclear weapon.”
Read More @ InfoWars.com
[Ed. Note: MSM says that Iran is cyber-attacking our big banks? What's even scarier is that 90% of people believe "news" like this from ABC...sounds like we need another war, folks!]
from MOXNEWSd0tC0M:
from Gold Money:
When considering whether gold is a value investment, one needs to first recognise that gold does not have a balance sheet, management team, price-earnings ratio or any of the other things one needs to analyse before making an investment. Also, gold does not generate any cash flow, so it does not pay a dividend. We can therefore conclude from these observations that gold is not an investment. Indeed, it is something different, which means that normal investment analytical techniques cannot be used to determine gold’s value.
Value of course arises from an item’s usefulness, and gold is useful because it is money. Though only used as currency these days in a few places like Turkey and Vietnam, gold is still useful in economic calculation, or in other words, measuring the price of goods and services.
Read More @ GoldMoney.com
from TheSONSOFLIBERTYMC:
When considering whether gold is a value investment, one needs to first recognise that gold does not have a balance sheet, management team, price-earnings ratio or any of the other things one needs to analyse before making an investment. Also, gold does not generate any cash flow, so it does not pay a dividend. We can therefore conclude from these observations that gold is not an investment. Indeed, it is something different, which means that normal investment analytical techniques cannot be used to determine gold’s value.
Value of course arises from an item’s usefulness, and gold is useful because it is money. Though only used as currency these days in a few places like Turkey and Vietnam, gold is still useful in economic calculation, or in other words, measuring the price of goods and services.
Read More @ GoldMoney.com
from TheSONSOFLIBERTYMC:
by Sam Jennings, Activist Post
There are at least four major active Monsanto attacks on food in California going on right now. The last listed exposes the iron fist Monsanto tries to hide.
1. Monsanto is pouring millions into defeating Prop 37.
Prop 37 calls for the labeling of genetically engineered (GMO) ingredients in food. Monsanto lawyer and VP, Michael Taylor, was responsible when Clinton put him in at the FDA, for the first GMO in the food chain – rBGH, a GM-bovine hormone linked to a large increase in risk of breast, colon and prostate cancer, for deregulating the approval process for GMOs, and for keeping GMOs unlabeled (even coming up with a white paper for Monsanto on how to sue farmers for attempting to label their milk as not based on rBGH. It was during this time at the FDA that 40,000 documents were hidden which showed extreme toxicity of GMOs, before Taylor arranged for GMOs to begin to be planted regardless.
Read More @ Activist Post
Having good radio equipment is important for many reasons. What will you do when there is no Internet? What will you do when there is no cellphone service? How will you know what’s going on in other parts of the country, let alone the world? Radio signals don’t need an intermediary, they just bounce all over the earth and are received by radios.
A 10 meter radio is very common and inexpensive, as well as their low-rent cousins, CB radios. Many can be found on ebay for under $200 and may already have the additional frequencies installed. Also any good SSB (single side band) CB radio can have what they call “Extra Channels Added” by any good tech. (Lots of mods here.) CB shops at truck stops often times have used free band radios for sale at good prices, but check Ebay for prices on used radios before going.
What you need to know about frequencies
Any frequency on the radio can be used in various modes, the most common being AM, Single Side Band (SSB), Upper Side Band (USB) and CW. CW means constant wave mode, which is the mode used for Morse Code and RTTY. It is possible to send several and receive multiple pages of text files via RTTY. The software needed can be found here. Radios with a CW mode like the RCI 2950 (et al) and the Uniden HR2510 have the CW mode installed. There are other models that also have CW mode, however no CB radios have CW mode. You can send pictures and text files to others, similar to a fax. This will be an excellent way for the people to maintain contact with others during times of crisis or total collapse.
Read More @ TheSurvivalMom.com
There are at least four major active Monsanto attacks on food in California going on right now. The last listed exposes the iron fist Monsanto tries to hide.
1. Monsanto is pouring millions into defeating Prop 37.
Prop 37 calls for the labeling of genetically engineered (GMO) ingredients in food. Monsanto lawyer and VP, Michael Taylor, was responsible when Clinton put him in at the FDA, for the first GMO in the food chain – rBGH, a GM-bovine hormone linked to a large increase in risk of breast, colon and prostate cancer, for deregulating the approval process for GMOs, and for keeping GMOs unlabeled (even coming up with a white paper for Monsanto on how to sue farmers for attempting to label their milk as not based on rBGH. It was during this time at the FDA that 40,000 documents were hidden which showed extreme toxicity of GMOs, before Taylor arranged for GMOs to begin to be planted regardless.
Read More @ Activist Post
from R11110000:
Check Out LIBERTY CLASSROOM & Learn Ron Paul’s Economic Platform (Austrian Economics) w/ Tom Woods: http://www.libertyclassroom.com/dap/a/?a=1978
Get involved form: http://www.peopleagainstndaa.com/join-us
Main Site: http://www.peopleagainstndaa.com/
Check Out LIBERTY CLASSROOM & Learn Ron Paul’s Economic Platform (Austrian Economics) w/ Tom Woods: http://www.libertyclassroom.com/dap/a/?a=1978
Get involved form: http://www.peopleagainstndaa.com/join-us
Main Site: http://www.peopleagainstndaa.com/
by Dan and Sheila, TheSurvivalMom.com:
Having good radio equipment is important for many reasons. What will you do when there is no Internet? What will you do when there is no cellphone service? How will you know what’s going on in other parts of the country, let alone the world? Radio signals don’t need an intermediary, they just bounce all over the earth and are received by radios.
A 10 meter radio is very common and inexpensive, as well as their low-rent cousins, CB radios. Many can be found on ebay for under $200 and may already have the additional frequencies installed. Also any good SSB (single side band) CB radio can have what they call “Extra Channels Added” by any good tech. (Lots of mods here.) CB shops at truck stops often times have used free band radios for sale at good prices, but check Ebay for prices on used radios before going.
What you need to know about frequencies
Any frequency on the radio can be used in various modes, the most common being AM, Single Side Band (SSB), Upper Side Band (USB) and CW. CW means constant wave mode, which is the mode used for Morse Code and RTTY. It is possible to send several and receive multiple pages of text files via RTTY. The software needed can be found here. Radios with a CW mode like the RCI 2950 (et al) and the Uniden HR2510 have the CW mode installed. There are other models that also have CW mode, however no CB radios have CW mode. You can send pictures and text files to others, similar to a fax. This will be an excellent way for the people to maintain contact with others during times of crisis or total collapse.
Read More @ TheSurvivalMom.com
by Anthony Wile, The Daily Bell:
In an article entitled, “How the Courts Are Curbing YouTube,” the Canadian Broadcasting Corporation explains to us that judicial pressure is being applied to YouTube to continually expand self-censorship. YouTube is owned by huge search engine provider, Google. We are supposed to be concerned that Google’s “guidelines are running afoul of local laws in different parts of the world” and generating these reactions. But if we look beneath the surface, we find a different scenario altogether.
We begin to see this is an elite dominant social theme, a promotion designed to bring about a certain result, one apparently designed to reduce certain kinds of information available on the Web. What we find, in fact, is a kind of orchestrated dance whereby the very forces that are supposedly anti-censorship are helping manufacture episodes that further promote it. If we understand what is at work here, it helps us comprehend the larger matrix of control that has been woven around our lives and times.
What we call the Internet Reformation – ‘Net-based debunkery of “accepted wisdom” – provides us the tools to better understand this hidden reality. The powers-that-be (those who prefer the status quo) are uncomfortable with the raucous world of the Internet and have undertaken a campaign against it that seems to stretch back a decade or more.
Read More @ TheDailyBell.com
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You).
Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
Jim Sinclair’s Commentary
All high speed trading, bar none, are tools to front run legitimate buy and sell orders, and to manipulate. Both illegal, but who cares.
We really have gone to hell in finance. This is the darkest time in human history in that field.
There was movie "The Firm" where the boss was the devil himself. The financial mafia of the Western world is "The Firm."
SEC Says New York Firm Allowed High-Speed Stock Manipulation By Whitney Kisling on September 25, 2012
A New York-based brokerage allowed overseas clients to run a scheme aimed at distorting stock prices by rapidly canceling orders, according to the U.S. Securities and Exchange Commission.
Clients of Hold Brothers On-Line Investment Services were “repeatedly manipulating publicly traded stocks” by placing and erasing orders in an illegal strategy designed to trick others into buying or selling, the SEC said today in a release. Hold Brothers, its owners, and the foreign firms Trade Alpha Corporate Ltd. and Demonstrate LLC agreed to settle allegations that the New York broker failed to supervise customers and pay $4 million in total SEC fines.
The SEC complaint targeted practices that abused high-speed computer trading on American equity venues. As high-frequency activity has grown in recent years, the agency’s efforts to stop fraudulent practices such as “layering” or “spoofing” have extended to the automated trading tactics.
“Direct access firms like these are the gatekeeper to our markets,” Sang Lee, managing partner at research firm Aite Group LLC in Boston, said today in a phone interview. “That’s why the SEC is doing this. This is certainly the area that they need to focus on, and on a larger scale.”
Steve Hold
Along with Hold Brothers, the SEC charged its co-founder and president, Steve Hold, who created and partially owned Trade Alpha and Demonstrate, according to today’s release. Robert Vallone, a former chief compliance officer and chief financial officer, and William Tobias, another executive, were also charged and agreed to the penalties.
A phone call to the Hold Brothers main number and an e-mail to the general media address weren’t immediately returned.
More…
Jim Sinclair’s Commentary
Chump change in a bailout world.
Spain’s banks ‘need 59.3bn euros of eurozone loans’ 28 September 2012 Last updated at 15:00 ET
Spain’s banks will need an injection of 59.3bn euros ($76.3bn; £47.3bn) to survive a serious downturn, an independent audit has calculated.
The amount is broadly in line with market expectations of 60bn euros, and follows so-called stress tests of 14 Spanish lenders.
Much of the money is expected to come from the eurozone rescue funds, the current EFSF and the future ESM.
Spain said in July that it would request eurozone support for its banks.
The Spanish banking sector has been in difficulty since the global financial crisis of 2008, and the subsequent bursting of the country’s property bubble and deep recession.
‘Transparent’
The European Commission welcomed the announcement, saying in a statement that it "is a major step in implementing the financial-assistance programme and towards strengthening the viability of, and confidence in, the Spanish banking sector".
More…
Jim Sinclair’s Commentary
Government by edict. Sounds something like the Egyptian Pharaohs’ famous rule by edict " So it is said. So it is written. So it is done."
The Pharaohs had no need for a legislative branch, Rule by Edict has no need for a legislative branch or a Cabinet.
The next administration could be the last. I am not kidding.
EXECUTIVE ORDERS ISSUED…
Teddy Roosevelt 3
FDR 11 in 16 years
Truman 5 in 7 years
Ike 2 in 8 years
Kennedy 4 in 3 years
LBJ 4 in 5 years
Nixon 1 in 6 years
Ford 3 in 2 years
Carter 3 in 4 years
Reagan 5 in 8 years
Bush 3 in 4 years
Clinton 15 in 8 years
George W. Bush 62 in 8 years
Obama 923 in 3 1/2 years !
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You).
Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
In an article entitled, “How the Courts Are Curbing YouTube,” the Canadian Broadcasting Corporation explains to us that judicial pressure is being applied to YouTube to continually expand self-censorship. YouTube is owned by huge search engine provider, Google. We are supposed to be concerned that Google’s “guidelines are running afoul of local laws in different parts of the world” and generating these reactions. But if we look beneath the surface, we find a different scenario altogether.
We begin to see this is an elite dominant social theme, a promotion designed to bring about a certain result, one apparently designed to reduce certain kinds of information available on the Web. What we find, in fact, is a kind of orchestrated dance whereby the very forces that are supposedly anti-censorship are helping manufacture episodes that further promote it. If we understand what is at work here, it helps us comprehend the larger matrix of control that has been woven around our lives and times.
What we call the Internet Reformation – ‘Net-based debunkery of “accepted wisdom” – provides us the tools to better understand this hidden reality. The powers-that-be (those who prefer the status quo) are uncomfortable with the raucous world of the Internet and have undertaken a campaign against it that seems to stretch back a decade or more.
Read More @ TheDailyBell.com
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You).
Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
I'm PayPal Verified
from Silver Doctors:
The market seems to have completely forgotten the fact that JPM’s massive CIO positions have yet to be closed. Unfortunately for Mr. Dimon, at least $90 billion in potential losses remain, and the strategy of slowing unwinding the positions will blow up in The Morgue’s face and exponentially exacerbate JPM’s losses with any further downturn in the economy.
The JP Morgan (JPM) trading blunder could result in a $100 billion loss, a contagion of its massive portfolio, and even the wipeout of its entire asset base. Even worse, these extremely risky and potentially-illegal actions on behalf of the CIO office and the “London Whale” could be the unexpected “shock” that breaks the market, derails the Fed’s huge monetary stimulus, and sends us back into a global recession.
There is one event that may ultimately solve the mystery of the global economy. This event would not only plunge the economy back into a deep recession and lose investors hundreds of billions of dollars, but it could bring about the collapse of some of the world’s largest financial institutions and even render central bank stimulus and QE completely ineffective and futile. This event is by no means a guarantee; its probability is even likely under 5 percent. But this event has all the necessary ingredients to culminate into a major panic. Together with slowing global economies and an extremely unstable financial system, this could be the next Lehman Brothers.
Read More @ Silver Doctors
To properly understand the events of the time (and to put them in today's context), we believe, like the FEE, that it is factually appropriate to view the Great Depression as not one, but four consecutive downturns rolled into one. These four “phases” are: I. Monetary Policy and the Business Cycle; II. The Disintegration of the World Economy; III. The New Deal; IV. The Wagner Act. The first phase covers why the crash of 1929 happened in the first place; the other three show how government intervention worsened it and kept the economy in a stupor for over a decade.
The following brief clip and article shine a light on how bad things
were and what was done in the name of 'helping' - there are many shocking analogies for current government-inspired acts
from taxation to protectionism to money-supply 'tricks'. Everyone has
heard the sage observation of philosopher George Santayana: “Those who cannot remember the past are condemned to repeat it.” It’s a warning we should not fail to heed.
Jim,
You told the community about Royal Gold and we got involved. That was in 2004 in the $14-$15 region. It hit triple digits today for the first time.
Thank you!
Regards,
CIGA Dave
Dear Dave,
The royalty companies who are truly gold banks, such as RGLD, have done extremely well. What has supported their success beyond the qualified people running them is that we have been in a world of progressively lower interest rates and progressively more entities seeking investment in gold that is not responsible for actually mining.
It is important to remember no stock is forever. Everything right now is positive for RGLD seeking higher prices. Should interest rates begin to rise, an important part of the RGLD formula will be challenged.
Since I anticipate much higher prices for gold, gold will continue to support RGLD’s business formula. I advised my readers to own RGLD when Barrons did a hatchet job article on RGLD saying its value was no more than $5-$6. There was a significant short interest at that time in RGLD. It traded I believe on that horribly inaccurate article down to near $11.
At that time I told you RGLD had a $80 number on it. I was wrong, and we now are in triple digits.
You know I have a very deep respect for Monty Guild. Monty does not focus all his managed funds on super gains. What makes me love Monty’s management is that he can’t stand losing either profits gained or otherwise. I would take his disciplines and apply them to RGLD. Monty’s stop loss limits change with time and entity, but average, I recall, about 7.5%. Since RGLD is a leader you might select a number between 8% and 11% keeping in mind it is sensitive to the cost of money.
A trailing sell stop order is adjusted as to price daily. Define the percentage you will accept in reaction or by back testing. Back testing is looking at what RGLD has reacted percentage wise while holding its uptrend and adopting something a tad larger in percentage terms as the trailing stop loss and enter it. You adjust the price as the stock rises, but you do no touch your stop limit if RGLD starts to come down.
You have made a killing and your job now is to keep it while allowing the stock to rise to wherever it wishes. This tactic is not fool proof but used when you hit the jackpot in order to help you keep it.
Now that we got a great buy we need to keep what we got. By the way, whenever the short dresses down MUX, McEwen’s company, buy it. It could be that MUX and trucks are in a race.
Regards,
Jim
The market seems to have completely forgotten the fact that JPM’s massive CIO positions have yet to be closed. Unfortunately for Mr. Dimon, at least $90 billion in potential losses remain, and the strategy of slowing unwinding the positions will blow up in The Morgue’s face and exponentially exacerbate JPM’s losses with any further downturn in the economy.
The JP Morgan (JPM) trading blunder could result in a $100 billion loss, a contagion of its massive portfolio, and even the wipeout of its entire asset base. Even worse, these extremely risky and potentially-illegal actions on behalf of the CIO office and the “London Whale” could be the unexpected “shock” that breaks the market, derails the Fed’s huge monetary stimulus, and sends us back into a global recession.
There is one event that may ultimately solve the mystery of the global economy. This event would not only plunge the economy back into a deep recession and lose investors hundreds of billions of dollars, but it could bring about the collapse of some of the world’s largest financial institutions and even render central bank stimulus and QE completely ineffective and futile. This event is by no means a guarantee; its probability is even likely under 5 percent. But this event has all the necessary ingredients to culminate into a major panic. Together with slowing global economies and an extremely unstable financial system, this could be the next Lehman Brothers.
Read More @ Silver Doctors
by Harvey Organ, HarveyOrgan.Blogspot.ca:
Gold closed down by $10.70 to $1771.10. Silver also fell by 10 cents to $34.52. Generally on first day notice both silver and gold rise. However the backdrop of problems in Europe weighed in on gold and silver as the bankers continued to push the sell button. Spain introduced its 2013 budget showing that they are in need of 60 billion euros to shore up the banks. They need much more and the markets certainly threw a tantrum as European boures were deeply in the red. The public sectors in Greece, Italy and Spain are witnessing daily rioting on the streets. Finally Fitch warns that the UK is in jeopardy of losing its coveted AAA rating. We will cover these and other stories but first……………
Let us head over to the comex and assess today which happens to be first day notice.
The total gold comex OI rose an astonishing 11,585 contracts on Friday. It certainly negates the loss of 8900 contracts on Thursday. The active month of October saw its OI settle at 6344 contracts and thus at first glance, 634400 oz of gold looks to be standing or 19.7 tonnes of gold. This is very high for October as most players bypass this month and head straight to December. The open interest is an important tool for us as it is a measure of demand for gold.
Read More @ HarveyOrgan.Blogspot.ca
Gold closed down by $10.70 to $1771.10. Silver also fell by 10 cents to $34.52. Generally on first day notice both silver and gold rise. However the backdrop of problems in Europe weighed in on gold and silver as the bankers continued to push the sell button. Spain introduced its 2013 budget showing that they are in need of 60 billion euros to shore up the banks. They need much more and the markets certainly threw a tantrum as European boures were deeply in the red. The public sectors in Greece, Italy and Spain are witnessing daily rioting on the streets. Finally Fitch warns that the UK is in jeopardy of losing its coveted AAA rating. We will cover these and other stories but first……………
Let us head over to the comex and assess today which happens to be first day notice.
The total gold comex OI rose an astonishing 11,585 contracts on Friday. It certainly negates the loss of 8900 contracts on Thursday. The active month of October saw its OI settle at 6344 contracts and thus at first glance, 634400 oz of gold looks to be standing or 19.7 tonnes of gold. This is very high for October as most players bypass this month and head straight to December. The open interest is an important tool for us as it is a measure of demand for gold.
Read More @ HarveyOrgan.Blogspot.ca
from Azizonomics:
Here’s some context behind the claims that Iran will imminently possess a nuclear weapon.
It started a long time ago (but not, unfortunately, in a galaxy far, far away):
Read More @ Azizonomics.com
Here’s some context behind the claims that Iran will imminently possess a nuclear weapon.
It started a long time ago (but not, unfortunately, in a galaxy far, far away):
1984: Soon after West German engineers visit the unfinished Bushehr nuclear reactor, Jane’s Defence Weekly quotes West German intelligence sources saying that Iran’s production of a bomb “is entering its final stages.”US Senator Alan Cranston claims Iran is seven years away from making a weapon.Seven years away? And did they have a bomb in 1991?
Read More @ Azizonomics.com
by J. D. Heyes, Natural News:
To consumer and political activist Ralph Nader, President George W. Bush – whom he ran against for president on third-party and Independent tickets in 2000 and 2004 – was a serial offender. But President Barack Obama is, in many instances, worse, he says, even going so far as to label the current White House occupant a “war criminal.”
In a recent interview with Politico, Nader – the guy responsible for a number of automobile safety standards throughout the 1960s and 1970s – said on issues of military and foreign policy, especially, Obama’s policies were far worse than his predecessor, “in the sense that he’s more aggressive, more illegal worldwide.”
“He’s gone beyond [Bush] in drones, for example,” Nader said. “He thinks the world is his plate, that national sovereignties mean nothing, drones can go anywhere. They can kill anybody that he suspects and every Tuesday he makes the call on who lives and who dies, supposed suspects in places like Yemen and Pakistan and Afghanistan, and that is a war crime and he ought to be held to account.”
Read More @ NaturalNews.com
To consumer and political activist Ralph Nader, President George W. Bush – whom he ran against for president on third-party and Independent tickets in 2000 and 2004 – was a serial offender. But President Barack Obama is, in many instances, worse, he says, even going so far as to label the current White House occupant a “war criminal.”
In a recent interview with Politico, Nader – the guy responsible for a number of automobile safety standards throughout the 1960s and 1970s – said on issues of military and foreign policy, especially, Obama’s policies were far worse than his predecessor, “in the sense that he’s more aggressive, more illegal worldwide.”
“He’s gone beyond [Bush] in drones, for example,” Nader said. “He thinks the world is his plate, that national sovereignties mean nothing, drones can go anywhere. They can kill anybody that he suspects and every Tuesday he makes the call on who lives and who dies, supposed suspects in places like Yemen and Pakistan and Afghanistan, and that is a war crime and he ought to be held to account.”
Read More @ NaturalNews.com
from Silver Vigilante:
The Vatican has been embroiled in conspiracy since the Vatileaks scandal of last Fall. And, currently, the trial of the butler of Pope Benedict, who is accused of leaking secret documents, is underway. Motivated by a desire to expose corruption and greed from within, the butler released the documents to journalists. In them, skulduggery and intrigue at the highest levels of the Catholic Church should have served to surprise nobody. Mr Gabriele, the defendant, said he was appalled by the “evil and corruption” of the Church, which he called “the kingdom of hypocrisy.” What is being missed by the US media, to be sure, is the closeness of the US’s biggest bank, JPMorgan, to Vatican City disregard for moral hazard and law. Sure, the press has recently covered JPMorgan failing to comply with anti-money laundering laws, but JPMorgan has been implicated (not legally) in a laundering scandal much more grave than the ones being investigated by US authorities. While currently the Office of the Comptroller of the Currency is looking into JPMorgan’s systems designed to monitor money laundering, there has been no word in the US press (except for here at Silver Vigilante) regarding JP Morgan laundering money for the Vatican.
JP Morgan Complicit in Vatican Bank Money Laundering:
Read More @ Silver Vigilante
The Vatican has been embroiled in conspiracy since the Vatileaks scandal of last Fall. And, currently, the trial of the butler of Pope Benedict, who is accused of leaking secret documents, is underway. Motivated by a desire to expose corruption and greed from within, the butler released the documents to journalists. In them, skulduggery and intrigue at the highest levels of the Catholic Church should have served to surprise nobody. Mr Gabriele, the defendant, said he was appalled by the “evil and corruption” of the Church, which he called “the kingdom of hypocrisy.” What is being missed by the US media, to be sure, is the closeness of the US’s biggest bank, JPMorgan, to Vatican City disregard for moral hazard and law. Sure, the press has recently covered JPMorgan failing to comply with anti-money laundering laws, but JPMorgan has been implicated (not legally) in a laundering scandal much more grave than the ones being investigated by US authorities. While currently the Office of the Comptroller of the Currency is looking into JPMorgan’s systems designed to monitor money laundering, there has been no word in the US press (except for here at Silver Vigilante) regarding JP Morgan laundering money for the Vatican.
JP Morgan Complicit in Vatican Bank Money Laundering:
Read More @ Silver Vigilante
The Law Of Diminishing Returns
In the discipline of rational economics - and even in the “economics” which has sadly taken its place - the law of diminishing returns applies to productive processes. It states that with all other factors remaining the same, the addition of more units of one factor of production will at some point result in a lower yield per unit. There is always an optimum combination of factors of production which yields the highest return per unit of production. Increase one of these units beyond that optimum and the yield provided starts to drop. This does not necessarily mean that the amount of output drops. It means that the output is now not being produced in the most efficient manner. Factors of production are being wasted.How Bad Was The Great Depression?
To properly understand the events of the time (and to put them in today's context), we believe, like the FEE, that it is factually appropriate to view the Great Depression as not one, but four consecutive downturns rolled into one. These four “phases” are: I. Monetary Policy and the Business Cycle; II. The Disintegration of the World Economy; III. The New Deal; IV. The Wagner Act. The first phase covers why the crash of 1929 happened in the first place; the other three show how government intervention worsened it and kept the economy in a stupor for over a decade.
The following brief clip and article shine a light on how bad things
were and what was done in the name of 'helping' - there are many shocking analogies for current government-inspired acts
from taxation to protectionism to money-supply 'tricks'. Everyone has
heard the sage observation of philosopher George Santayana: “Those who cannot remember the past are condemned to repeat it.” It’s a warning we should not fail to heed.Jim,
You told the community about Royal Gold and we got involved. That was in 2004 in the $14-$15 region. It hit triple digits today for the first time.
Thank you!
Regards,
CIGA Dave
Dear Dave,
The royalty companies who are truly gold banks, such as RGLD, have done extremely well. What has supported their success beyond the qualified people running them is that we have been in a world of progressively lower interest rates and progressively more entities seeking investment in gold that is not responsible for actually mining.
It is important to remember no stock is forever. Everything right now is positive for RGLD seeking higher prices. Should interest rates begin to rise, an important part of the RGLD formula will be challenged.
Since I anticipate much higher prices for gold, gold will continue to support RGLD’s business formula. I advised my readers to own RGLD when Barrons did a hatchet job article on RGLD saying its value was no more than $5-$6. There was a significant short interest at that time in RGLD. It traded I believe on that horribly inaccurate article down to near $11.
At that time I told you RGLD had a $80 number on it. I was wrong, and we now are in triple digits.
You know I have a very deep respect for Monty Guild. Monty does not focus all his managed funds on super gains. What makes me love Monty’s management is that he can’t stand losing either profits gained or otherwise. I would take his disciplines and apply them to RGLD. Monty’s stop loss limits change with time and entity, but average, I recall, about 7.5%. Since RGLD is a leader you might select a number between 8% and 11% keeping in mind it is sensitive to the cost of money.
A trailing sell stop order is adjusted as to price daily. Define the percentage you will accept in reaction or by back testing. Back testing is looking at what RGLD has reacted percentage wise while holding its uptrend and adopting something a tad larger in percentage terms as the trailing stop loss and enter it. You adjust the price as the stock rises, but you do no touch your stop limit if RGLD starts to come down.
You have made a killing and your job now is to keep it while allowing the stock to rise to wherever it wishes. This tactic is not fool proof but used when you hit the jackpot in order to help you keep it.
Now that we got a great buy we need to keep what we got. By the way, whenever the short dresses down MUX, McEwen’s company, buy it. It could be that MUX and trucks are in a race.
Regards,
Jim
Jim Sinclair’s Commentary
All high speed trading, bar none, are tools to front run legitimate buy and sell orders, and to manipulate. Both illegal, but who cares.
We really have gone to hell in finance. This is the darkest time in human history in that field.
There was movie "The Firm" where the boss was the devil himself. The financial mafia of the Western world is "The Firm."
SEC Says New York Firm Allowed High-Speed Stock Manipulation By Whitney Kisling on September 25, 2012
A New York-based brokerage allowed overseas clients to run a scheme aimed at distorting stock prices by rapidly canceling orders, according to the U.S. Securities and Exchange Commission.
Clients of Hold Brothers On-Line Investment Services were “repeatedly manipulating publicly traded stocks” by placing and erasing orders in an illegal strategy designed to trick others into buying or selling, the SEC said today in a release. Hold Brothers, its owners, and the foreign firms Trade Alpha Corporate Ltd. and Demonstrate LLC agreed to settle allegations that the New York broker failed to supervise customers and pay $4 million in total SEC fines.
The SEC complaint targeted practices that abused high-speed computer trading on American equity venues. As high-frequency activity has grown in recent years, the agency’s efforts to stop fraudulent practices such as “layering” or “spoofing” have extended to the automated trading tactics.
“Direct access firms like these are the gatekeeper to our markets,” Sang Lee, managing partner at research firm Aite Group LLC in Boston, said today in a phone interview. “That’s why the SEC is doing this. This is certainly the area that they need to focus on, and on a larger scale.”
Steve Hold
Along with Hold Brothers, the SEC charged its co-founder and president, Steve Hold, who created and partially owned Trade Alpha and Demonstrate, according to today’s release. Robert Vallone, a former chief compliance officer and chief financial officer, and William Tobias, another executive, were also charged and agreed to the penalties.
A phone call to the Hold Brothers main number and an e-mail to the general media address weren’t immediately returned.
More…
Jim Sinclair’s Commentary
Chump change in a bailout world.
Spain’s banks ‘need 59.3bn euros of eurozone loans’ 28 September 2012 Last updated at 15:00 ET
Spain’s banks will need an injection of 59.3bn euros ($76.3bn; £47.3bn) to survive a serious downturn, an independent audit has calculated.
The amount is broadly in line with market expectations of 60bn euros, and follows so-called stress tests of 14 Spanish lenders.
Much of the money is expected to come from the eurozone rescue funds, the current EFSF and the future ESM.
Spain said in July that it would request eurozone support for its banks.
The Spanish banking sector has been in difficulty since the global financial crisis of 2008, and the subsequent bursting of the country’s property bubble and deep recession.
‘Transparent’
The European Commission welcomed the announcement, saying in a statement that it "is a major step in implementing the financial-assistance programme and towards strengthening the viability of, and confidence in, the Spanish banking sector".
More…
Jim Sinclair’s Commentary
Government by edict. Sounds something like the Egyptian Pharaohs’ famous rule by edict " So it is said. So it is written. So it is done."
The Pharaohs had no need for a legislative branch, Rule by Edict has no need for a legislative branch or a Cabinet.
The next administration could be the last. I am not kidding.
EXECUTIVE ORDERS ISSUED…
Teddy Roosevelt 3
FDR 11 in 16 years
Truman 5 in 7 years
Ike 2 in 8 years
Kennedy 4 in 3 years
LBJ 4 in 5 years
Nixon 1 in 6 years
Ford 3 in 2 years
Carter 3 in 4 years
Reagan 5 in 8 years
Bush 3 in 4 years
Clinton 15 in 8 years
George W. Bush 62 in 8 years
Obama 923 in 3 1/2 years !
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You).
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