Monday, September 17, 2012

Gold & Silver To Overrun Central Planners

Today James Turk told King World News that this move in gold and silver may be the start of the “big one.” Turk also warned if that is the case, then we are nearing the point where gold and silver buyers will, “… totally overrun the central planners.”
Here is what Turk had to say: “The precious metals have been exhibiting exceptional strength, Eric, and I am not just talking about their big gains in price. I am referring to the way they have been trading. Their extraordinary strength is clearly visible on an intraday chart. Both precious metals have been forming the same pattern going back to the lows in August when gold was under $1600 and silver was under $30.
Turk continues @

Conditions Will Worsen In 2013 & 2014 – Jim Rogers

from PeterSchiffChannel:

Faber’s ‘Fed Counterfeiting’ Remark is Unusual but Not Extreme These Days

by Staff Report, The Daily Bell:

Marc Faber: If I Were Bernanke, I Would Resign … Central bankers are “counterfeit money printers” and Federal Reserve Chairman Ben Bernanke should resign for messing up the U.S. economy so badly, Marc Faber, author of the Gloom, Doom and Boom, told CNBC on Friday. He said Bernanke was one of the main proponents of an ultra-expansionist economic monetary policy that was to blame for the latest financial crisis. “If I had messed up as badly as Bernanke I would for sure resign. The mandate of the Fed to boost asset prices and thereby create wealth is ludicrous — it doesn’t work that way. It’s a temporary boost followed by a crash,” Faber said. – CNBC
Dominant Social Theme: The Fed is triumphing slowly but surely.
Free-Market Analysis: This is fairly unprecedented. A so-called mainstream economist and investor, Marc Faber, has accused the Federal Reserve of “counterfeiting.”
While Faber is certainly on the conservative/libertarian side of the spectrum, his views have been popularly disseminated by the mainstream media for years.
Read More @

Where We Are and Where We’re Going (Week of September 17, 2012)

from Gains Pains & Capital:

On Thursday last week, the US Federal Reserve announced QE 3: a program through which it will purchase $40 billion in Mortgage Backed Securities (MBS) every month going forward.
Given the close proximity of this move to the European Central Bank’s (ECB) “unlimited” bond purchasing program announced the week before, the Fed’s move should be taken as a coordinated Central Bank intervention. Thus, we have both the ECB and the Fed going “all in” on their efforts to support the Global Financial System.
This decision will not be without its consequences. Inflationary pressures were already high in the US and around the world. They will be going higher as a direct consequence of the Fed’s move.
Read More @

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Martin Callanan on Barroso’s State of [EU] Union address: More Communism

from liarpoliticians:

Martin Callanan of the European Conservatives And Reformists grouping talks about EUSSR Commie Barroso’s “State of the union” address, where he wants more Communism to cure the “problem” of Capitalism. It is the European Communist project that is killing people, figuratively and literally.

For “Great Projects,” Against “Great National Projects”

New York Times columnist David Brooks doesn’t understand what community means. And like Barack Obama and Elizabeth Warren, he’s so enamored of the federal government that he can’t imagine anything outside it.
In a column today, Brooks notes that “Republicans strongly believe that individuals determine their own fates.” This leads him to cast the Republican party on display at their convention as a bunch of individualist libertarians.
According to Brooks, Republicans infatuated with libertarianism now obsess on “hyperindividualism.” Set aside the absurdity of seeing the party that just nominated Mitt Romney as one committed to limited government and excessive respect for the individual. What matters here is just how much such individualism terrifies Brooks.
Speaker after speaker celebrated the solitary and heroic individual. There was almost no talk of community and compassionate conservatism. There was certainly no conservatism as Edmund Burke understood it, in which individuals are embedded in webs of customs, traditions, habits and governing institutions.
Read More @

Optical Illusion of the Globalists: Al-Qaeda Attacking US Embassies Across the World

by Susanne Posel, Occupy Corporatism:
On September 15th, Obama stated in his weekly address that the US “must also send a clear and resolute message to the world: those who attack our people will find no escape from justice.”
Obama asserts that: “We are in contact with governments around the globe, to strengthen our cooperation, and underscore that every nation has a responsibility to help us protect our people. We have moved forward with an effort to see that justice is done for those we lost, and we will not rest until that work is done.”
US Embassies across the globe are coming under attack with coordinated efforts by the CIA-controlled al-Qaeda. In weekly Sydney, Australia , 8 plants are being charged with inciting and participating in violent clashes with police and protesters at a rally sparked by the US-sponsored anti-Islamic film that is being blamed for this sudden uprising in the Islamic world.
The Tunisian government has come out to publicly condemn the attack in Libya. In their region, an American school and embassy compound was secured by Tunisian police against thousands of demonstrators who replaced an American flag with the flag of Islam admit looting and burning buildings.
Read More @

SOLA 0.1 My Awakening Part 1

from TruthNeverTold :

New innovations boost silver demand, but could price be taken down again?

Ongoing advances in the usage of silver could boost industrial demand. But, while pricing looks strong there are warnings of a possible short-seller price take-down again.
by Lawrence Williams,

At last week’s Denver Gold Forum, Hecla’s CEO, Phil Baker, took time in his presentation on his company to point out some parallels between silver today and the huge change in demand structure which took place at the close of the 19th and the start of the 20th Centuries as technological advance (the use of silver in photography) dramatically changed the structure of the silver market. At that time, silver’s usage had primarily been in silverware, jewellery and in monetary usage, but photographic demand eventually rose to account for around 50% of the market.
Baker’s view is that now, although photographic usage has dived dramatically with the onset of digital photography, we are now entering a new era of technological change affecting silver’s industrial consumption growth which is happening before our eyes. But this time it is not any single industrial sector which is creating the demand, but a slew of new uses which have grown up over the past ten years or so, and will continue to grow at a rapid rate as some of silver’s unique properties in the electronics and medical fields in particular continue to boost industrial consumption of the metal.
Read More @

Silver Update 9/17/12 More Financial Repression

from BrotherJohnf:

Dagan vs Netanyahu

from Azizonomics:
Binyamin Netanyahu recently slammed critics of a pre-emptive strike on Iran as “having set a new standard for human stupidity”.
Yet Netanyahu’s view is not shared by all Israelis. In fact, there are some very prominent Israeli critics of Netanyahu’s view. Meir Dagan, the former head of the Israeli intelligence service Mossad, says that an attack on Iran would be the “stupidest idea I’ve ever heard.”
Speaking to ’60 Minutes’ Dagan noted: “An attack on Iran now before exploring all other approaches is not the right way to do it.”
Dagan should be congratulated for his rationality. It is my belief that the greater threat to Israel and the West is not the potential for an Iranian nuclear weapon — the truth remains that mutually assured destruction remains the most potent peacemaking force in history, even for supposedly irrational regimes like Pakistan, North Korea and Soviet Russia — but the dangers of blowback from a unilateral strike on Iran.
Read More @

Iran atomic chief says ‘explosives’ cut power at facility

from My Fox DC:
Iran’s nuclear chief said Monday that “terrorists and saboteurs” might have infiltrated the International Atomic Energy Agency in an effort to derail his nation’s atomic program, in an unprecedentedly harsh attack on the integrity of the U.N. organization and its probe of allegations that Tehran is striving to make nuclear arms.
Fereydoun Abbasi also rebuked the United States in comments to the IAEA’s 155-nation general conference, reflecting Iran’s determination to continue defying international pressure aimed at curbing its nuclear program and nudging it toward cooperation with the IAEA inspection.
Read More @ MyFoxDC

Félix Moreno and James Turk on the Recent Gold & Silver Price Moves & the Future

from Gold Money News:

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“Bullish wagers” on commodities soar

by Jeff Nielson, Silver Gold Bull:

Some people find my use of the phrase “propaganda machine” offensive. However, we see example after example where the Corporate Media simply perverts the actual news into a banker-friendly agenda which is so obvious it cannot possibly be passed off as “objective reporting.”
As I’ve explained on many occasions, printing money dilutes the value of all money in the same way that diluting anything else in the universe also dilutes its value. The absurd pretension (never with any explanation offered) that printing paper money is somehow an exception to the universal principle of dilution is beyond absurd.
Thus we begin our analysis with the tautological premise that printing money dilutes the value of all money, causing prices to rise (for the same goods) because every currency-unit is worth less (and ultimately worthless). Meanwhile, in the fantasy-world of the Corporate Media; how is this phenomenon being described?
Read More @

Again, run on the Spanish banks/Riots in Arab countries and in Spain/Spanish 10 year yields reach 6% again

by Harvey Organ,

Gold closed down today as the bankers are getting quite nervous about the OI levels. At comex closing time, the price of gold finished at $1767.70 down $1.90 on the day. Silver also faltered a bit dropping 30 cents to $34.30. However the bankers decided to raid in the access market dropping gold down to as low as $1754.00 and silver below $34.00
At 4:30 pm, the access market has the following prices for gold and silver:
gold: 1760.00
silver: $34.13
Gold shares started to rise almost 10 minutes after the hit suggesting the mini raid had no real material affect and we should see gold and silver rise tomorrow.
Today, we had bad news from Spain as again the Spanish banks are bleeding as depositors flee to other jurisdictions. The yield on the 10 year Spanish bond jumped back again to the 6% level as rioting returned to the streets of Madrid. All bourses finished in the red as the realize that global QE to infinity will not be the ultimate fix.
Read More @

Iran depends heavily on Turkey for Gold

from Bullion Street:
Sanctions hit Iran is reported to have piling up gold reserves to face any eventuality and is depending heavily on neighbor Turkey for the purpose.
Iranians purchased $4.8 billion worth of gold in 2012′s second quarter, up from roughly $1 billion in the first quarter of the year.
Analysts said deteriorating Iranian economy, as a result of tightening international economic sanctions is seen as a key factor behind the surge in gold exports.
Turkey’s gold exports to Iran witnessed a surge this year raising questions whether the gold purchases are the latest attempt by Tehran to circumvent increasingly tough international sanctions.
The surge in gold exports also has been matched by a similarly impressive growth in Iranian businesses opening in Turkey.
Turkey’s total gold and precious stone exports have amounted in the first seven months of 2012 to nearly $8.9 billion, while the figure was only $1.8 billion in the same period last year.
Read More @

Is DHS Preparing for False Flag Attack on American Shopping Malls?

by Susanne Posel, Occupy Corporatism:
In Virginia and Indiana, Simon Property, owner of 393 properties worldwide, including the Town Center at Aurora (the shopping mall located near the Century 16 Theater in Colorado where the Batman shooting took place) will partner with DHS and Janet Napolitano to participate in the See Something, Say Something campaign which turns average American citizens into Stasi.
New participants in the DHS surveillance campaign are representatives from Major League Baseball, Major League Soccer, National Basketball Association, National Hockey League, and National Football League.
According to Napolitano , “We’re all safer when everyone is alert and engaged” and she wants the American public to spy on each other because our continued safety is “a shared responsibility”.
With the assistance of Simon malls, tenants and employees of tenants will be encouraged with the use of the Delphi technique into spying and reporting “suspicious behavior” displayed by fellow employees and patrons.
Napolitano says that the DHS will expand their Stasi into every city, state, university, private business, transportation depot, and hotel/motel and retail stores by brainwashing the public into believing that spying for the US government is being a patriot.
Napolitano explains: “When we each do our part, we keep our nation safe, one hometown at a time.”
Read More @

Bullish on Gold, Bearish on Dollar: Nolan Watson, CEO Sandstorm Gold

from KitcoNews:

Defining Libertarianism and Austrian Economics with Walter Block

from Capital Account:

The US Treasury declined GM’s offer to buy back 200 million of the 500 million shares the US currently holds, according to the Wall Street Journal. In 2009 GM received a $50 billion dollar bailout from taxpayers. Now, GM executives upset over pay restrictions and the stigma of “Government Motors,” want to buy back shares at a price that would cause taxpayers to lose billions of dollars in the deal. Can anyone argue we still live in a capitalist society?
Also, today marks the anniversary of Occupy Wall Street. Organizers planned nonviolent civil disobedience actions around the issues of ‘Corporatocracy.’ A year later the issues seem just as relevant. We talk with Walter Block, libertarian philosopher, professor, and Austrian economist, about how address the points brought up by the Occupy movement …
As discontent with the established political parties intensifies, we see growing interest in alternative frameworks and ideologies, such as Libertarianism. We talk to Walter Block, Chair of Economics at Loyola University New Orleans, and author of Defending the Undefendable, about the difference between Libertarianism and Austrian economics and how free enterprise has been misunderstood.

Anti-Japanese Protests Sweeping China

from corbettreport:
Anti-Japanese protests have swept China, as the volatile dispute over who owns a series of islands escalates. The fallout over the archipelago dispute has been widening between Tokyo and Beijing since Japan decided to bypass China and buy the territories from private investors. This comes as Washington and Tokyo agreed to put a second anti-missile defence radar in Japan, claiming it’ll be focused on deterring North Korean aggression. But James Corbett, editor of the Corbett Report website who lives in Japan thinks the system will be deployed for all the wrong reasons.


by Bill Holter,
After some thinking over the weekend, I have come to the conclusion (belatedly, I can’t believe it took me more than 4 seconds) that the Fed committed it’s own suicide last Thursday. Yes I know, they had already done 2 QE’s, Operation Twist and blown up their balance while stuffing it with all sorts of non performing, substandard garbage assets. BUT, this episode of buying $40 billion (to start) of MBS per month is open ended.
All you need to do is go back through history to see that any “temporary” government program has always been permanent from it’s inception. Not only has it been “permanent”, nearly ALL government programs “grow” and expand, this is simply by nature what government does. This new program will (can) never ever end. The $40 billion will only be expanded at each “necessary” point in time, it will never be shrunk and surely never terminated. They must inflate, now they have in place the program that will allow them to do it.
Think about it, every single time that the system experienced “stress” in the past, what was the response by The Fed? They pumped. They pumped in 1987 during and after the crash, they pumped in 1991-92 during and after the recession, they pumped in 1998 during the Asian crisis, they pumped going into Y2K, they pumped from 2001-2005 to “recover” from the 2001-02 recession and they have pumped ever since 2007 to try to avoid outright deflation. It is what they do. It is what they were created for in the first place. We are at the end game where they must increase at an exponential pace, the amounts that they print.
Read more @

Precious Metals “Defending Gains”, Central Bank Policy “Hugely Bullish” for Commodities

by Ben Traynor, Gold Seek:
THE WHOLESALE cost of buying gold dipped below $1770 an ounce during Monday morning trading in London, but remained less than ten Dollars below their six-month high hit last Friday, the day after the US Federal Reserve announced a third round of quantitative easing.
Prices for buying silver fell to around $34.50 an ounce this morning – 1.3% off Friday’s high – as stocks and industrial commodities also edged lower and major government bond prices rose.
“Precious metals are for the most part defending the gains they have made in recent days,” says Commerzbank in its morning commodities note.
“Gold is still pretty bullish this week,” agrees Phillip Futures analyst Lynette Tan in Singapore. “I think gold prices will remain firm and probably test the [$1790] high set in February…buyers are still buying gold, but it seems that profit taking may occur later.”
On New York’s Comex, the so-called speculative net long position across all gold futures and options traders – based on the difference between bullish and bearish contracts – rose to its highest level since February last Tuesday, according to weekly data published each Friday by the Commodity Futures Trading Commission.
Read More @

NDAA on trial: White House REFUSES to abide with ban against indefinite detention of Americans

from RT:

Not only is the White House fighting in court for the power to jail Americans indefinitely without trial, but the Obama administration is refusing to tell a federal judge if they’ve abided by an injunction that prohibits them from such.
Attorneys for the White House have been in-and-out of court in Manhattan this week to argue that the indefinite detention provisions of the National Defense Authorization Act of 2012, or NDAA, are necessary for the safety and security of the nation. When President Barack Obama signed the bill on December 31, he granted the government the power to put any American away in jail over even suspected terrorist ties, but federal court Judge Katherine Forrest ruled in May that this particular part of the NDAA, Section 1021, failed to “pass constitutional muster” and ordered a temporary injunction.
On Monday, White House attorneys asked for an appeal for that injunction so that they’d be once more legally permitted to indefinitely detain anyone over mere accusations. When specifically asked to answer whether or not they’ve adhered by Judge Forrest’s injunction so far, though, administration attorneys refused to cooperate with the questioning.
Read More @

The Cost of Truth: Nigel Farage Loses Appeal, Fined €2,980 for Calling Van Rompuy “a damp rag” and “low-grade bank clerk”

from The Telegraph:

UKIP leader Nigel Farage has lost his appeal against a fine imposed by the European Parliament after he compared president Herman Van Rompuy to a “damp rag”.
Mr Farage was fined €2,980 (£2,400) in 2010 for delivering a speech in which he said Mr Van Rompuy had “all the charisma of a damp rag and the appearance of a low-grade bank clerk.”
A court order published today showed that Mr Farage had lost his challenge at the EU’s General Court.
[Ed. Note: If you missed Nigel's truth-telling speech in 2010, here it is again for your viewing pleasure. Noteworthy is this fact, Nigel was not fined for this most accurate portrayal of Van Rompuy in the same speech: "I have no doubt that it's your intention to be the quiet assassin of European democracy and the European nations states."]

The Deficit, The Economic Consequences of a Political Decision

By John Mauldin, The Market Oracle:
We are often told that the current election is the most important in recent history. I think I have heard that in about ten presidential cycles, ever since I first voted, for McGovern, as a young man. And looking back, only about one of those elections actually qualified on that score. I think this election does have the potential to be one of those rare times, at least in terms of economic outcomes. In Thoughts from the Frontline we cover economics and investments, money and finance. We only rarely stray into the political world, and then only glancingly. Today, we cross that gray line, but at a somewhat different angle, as we look at the economic consequences of the political decision that will come with the choices we make in November in the US.
But it is not as simple as suggesting that choosing one party over the other will solve the nation’s economic ills. If that were the case, we would not be facing the momentous challenge we now do, because both parties have had firm control of the levers of power in recent years, and both have failed to deal with what has become, at least for this economic analyst, the burning issue of the day. Indeed, both have made it worse. Today we look at what the choices are and the impacts of those choices.
Read More @

Another ‘Domestic Terrorist’: “This Was ALL Concocted By The FBI!”

[Ed. Note: As we've reported time and time again, acts of 'domestic terror' and the FBI go together like peanut butter and jelly. Even the 1993 WTC bombing involved the FBI. In that case, the FBI cooked the bomb and provided it to Salem, Unfortunately for the FBI, Salem recorded his conversations with the FBI and made those recordings public.]

from MOXNEWSd0tC0M:

Your CRIMINAL Gov’t: White House Says It’s Unconstitutional To Strike Down The NDAA

by Abby Rogers, BusinessInsider:

The Obama administration had some harsh words Friday after a federal judge appointed by Obama said the government doesn’t have a right to indefinitely detain anyone even remotely associated with terrorist groups.
Judge Katherine B. Forrest permanently blocked the government from enforcing the National Defense Authorization Act, claiming it was too vague and would have a “chilling effect” on free speech.
And now the Department of Justice is calling Forrest’s ruling “unprecedented,” arguing that the government has long had the authority to detain anyone it deems a threat to the county, The Wall Street Journal’s Law Blog reported Friday.
Read More @

Germany Leads Push Against March to ECB Bank Oversight

by Rebecca Christie, Jim Brunsden and Maud van Gaal , Business Week:
German Finance Minister Wolfgang Schaeuble led criticism of the euro area’s rush toward common bank oversight as France, Spain, Italy and the European Commission pressed for speedy action.
European Union finance ministers were sharply divided over proposals to introduce a single supervisor in January within the 17-nation currency zone. Schaeuble, backed by ministers from Sweden, the Netherlands and Poland, said the EU must be cautious before the European Central Bank takes on its supervisory role, with the promise of direct bank bailouts from the euro’s firewall fund.
Schaeuble said it will take time to build the “sizeable apparatus” required for the ECB to oversee more than 6,000 euro-area financial institutions. Banks that could pose broad risks should move to the new system first, he said.
“We plead very much that stress tests be conducted before systemically-relevant banks get transferred from the national supervisor to the European,” Schaeuble told reporters yesterday after the meeting of ministers in Nicosia, Cyprus.
Read More @

Gold futures struggle for direction post-Fed glow

Gold futures weaved in and out of the red Monday, looking for a firmer direction after they rallied strongly last week on the Federal Reserve’s latest bond-buying plan.
by Claudia Assis and Sara Sjolin, Market Watch:

Gold for December delivery GCZ2 -0.39% retreated 60 cents to $1,772.20 an ounce on the Comex division of the New York Mercantile Exchange.
The metal gained 1.9% last week as plans by the Federal Reserve to launch fresh monetary-easing measures spurred demand for gold.
“The good news about gold today is that we’re not down substantially,” said Adam Klopfenstein, a senior market strategist with Archer Financial in Chicago. ”The market is digesting a big meal from the Fed last week.”
Read More @ Market Watch

Dollar hangs around 7-month lows as BOJ eyed

The dollar traded near seven-month lows against major currencies on Monday after last week’s Federal Reserve announcement of aggressive easing dampened the outlook for the U.S. currency.
by Wanfeng Zhou, Reuters:

The U.S. dollar could recover in the near term, though, as some traders said the greenback’s 3 percent drop so far this month may have been overdone. The slide took the euro to a four-month high against the dollar and the yen to a seven-month high.
The Fed on Thursday said it would pump $40 billion into the economy each month until unemployment falls significantly. The move came a week after the European Central Bank unveiled a new bond-buying program to address the region’s debt crisis.
“The outlook for the dollar has definitely been damaged by the policy actions by both central banks — the Fed and the ECB,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.
Read More @ Reuters

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