from Silver Doctors:
The legendary Jim Sinclair has sent an email alert to subscribers in
response to a reader inquiring why the bullion banks are short gold and
silver.
Sinclair responded with his most in-depth explanation to date stating that the majority of what appears to be short positions is in fact a massive hedge spread which has been systematically used to manage the ascent of gold up from $250 and the USDX down from 1.25 over the past 10 years.
Sinclair states that when the bullion banks sense that gold is ready to explode upwards in price in the final bull move of this bull run, they will flip their spread hedge naked long, reaping the largest gains of anyone in the precious metals sector, and propelling gold to $12,400.
MUST READ!!!
Read More @ Silver Doctors
The legendary Jim Sinclair has sent an email alert to subscribers in
response to a reader inquiring why the bullion banks are short gold and
silver.Sinclair responded with his most in-depth explanation to date stating that the majority of what appears to be short positions is in fact a massive hedge spread which has been systematically used to manage the ascent of gold up from $250 and the USDX down from 1.25 over the past 10 years.
Sinclair states that when the bullion banks sense that gold is ready to explode upwards in price in the final bull move of this bull run, they will flip their spread hedge naked long, reaping the largest gains of anyone in the precious metals sector, and propelling gold to $12,400.
MUST READ!!!
Read More @ Silver Doctors
Central banks’ actions create a catalyst for Gold in Q3
from, Bullion Street:
For gold, as for many other assets, central bank policy announcements
and actions in late August and early September created a catalyst for
price activity, according to WGC.In it’s Q3 summary report,WGC said it is critical to note that while gold prices react to monetary policy developments, they are more generally determined by a geographically and thematically broad set of factors.
Central banks announced a continuation of their unconventional monetary policy programmes in Q3. Central banks have numerous rationales for undertaking unconventional monetary policy, including lowering borrowing costs and supporting financial markets.
Read More @ BullionStreet.com
"The Clock Is Running, The Cash Is Almost Gone And Make-Believe Will No Longer Suffice"
Here
is the issue of legacy liabilities. Here Germany has been fairly clear.
The new ESM fund will not pick up the check and it is up to each
country to pay for their own past problems. You may translate this piece
of jargon into a “No” to Ireland that the ESM will not pick up the bill
for the Irish banks and the same response for Spain. This new German
definition puts Portugal, Greece, Spain and Ireland back at square one
and effectively closes the door on any further negotiations. While all
of this wrangling continues the tone at the summit was no longer the
nicey-nice repartee of past meetings. Cyprus needs money, Spain needs
money, Portugal probably needs more money and Greece is just about out
of money. The summit was held, the meeting is over and the worth of any
accomplishments is about at Zero as the only agreement was a plan to
have a plan to deal with bank supervision. This is not an inch forward,
this is not a millimeter forward; this is quicksand where they are all
stuck as both money and time run out as the Socialists scream for alms
while the landed gentry, utilizing head fakes and other polite
deceptions, refuse to provide it. The clock is running, the cash is
almost gone and make-believe will no longer suffice. The crisis phase,
in my opinion, has been entered.Narcissism, Consumerism And The End Of Growth
Japan is the leading-edge of the crumbling model of advanced neoliberal capitalism: that consumerist excess creates wealth, prosperity and happiness. What consumerist excess actually creates is alienation, social atomization, narcissism, and a profound contradiction at the heart of the consumerist-dependent model of "growth": the narcissism that powers consumerist lust and identity is at odds with the demands of the workplace that generates the income needed to consume... The younger generation of workers raised in a consumerist "paradise" are facing an economic stagnation that reduces opportunities to earn the high income needed to fulfill the consumerist demands for status symbols. Given the hopelessness of earning enough to afford the consumerist lifestyle, they have abandoned traditional status symbols such as luxury autos and taken up fashion and media as expressions of consumerism. But the narcissism bred by consumerism has nurtured a kind of emotional isolation and immaturity, what might be called permanent adolescence, which leaves many young people without the tools needed to handle criticism, collaboration and the pressures of the workplace. Narcissism is the result of the consumerist society's relentless focus on the essential project of consumerism, which is "the only self that is real is the self that is purchased and projected.".. The ultimate contradiction in this debt-consumption version of capitalism is this: how can an economy have "endless expansion and growth" when pay and opportunities for secure, high-paying jobs are both relentlessly declining? It cannot. Financialization, consumerist narcissism and the end of growth are inextricably linked.
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A Snapshot Of The Middle Eastern Sectarian Powder Keg
Yesterday's massive car bomb in Lebanon,
which killed and wounded dozens including the country's police
intelligence chief and has thus been dubbed as the most "high-profile
assassination in seven years", confirmed once again that when it comes
to regional powder kegs, the middle east is second to none, and is the
21st century equivalent of Eastern Europe. While nobody has claimed
responsibility yet for yesterday's brazen attack (although the
"agenda-less" media is once again insinuating it
is the doing of Syria's leader Bashar al-Assad) one thing is certain:
provocations of this nature will continue indefinitely until they
escalate into something much more lethal. The reason: the melting pot
melange of different sects in Syria and Lebanon, which co-exist in
perfectly mutual hatred despite, or rather because of, the artificial
political borders imposed between the two countries provides a terrific
backdrop to which merely add a spark and watch everything go up in
flames. Which also means that those seeking to provoke further military
escalation in the region, now that attempts to stoke a conflict between
Syria and Turkey have so far failed, will likely look to Lebanon as a
new conduit for escalation. . Because remember: as David Rosenberg pointed out yesterday, in a time of record partiasniship, political bickering and lack of consensus, "it
may end up taking some sort of a crisis, in the end, to galvanize the
two parties to work towards a resolution to the fiscal morass."
And that is precisely what the endgame here is: the intention to unify
a hopelessly split congress (and senate) behind the patriotic banner
of war. It is only a matter of time (but certainly in time to address
the Fiscal Cliff).We Don't Want Your Steenkin' $1, $5, And $10 Dollar Bills
Everyone knows that when it comes to US currency in circulation, the $2 and the $50 bills are rapidly approaching numismatic status due to either the government's unwillingness to print them in sufficient amounts or the general public's unwillingness to accept them as legal Federal Reserve Note tender. What people may not know is how other currency denominations have fared over the years. And as the charts below indicate, the historical government production of various currency denominations may tell us something about actual supply-driven intentions of the Fed and/or upcoming price levels. Because one thing is certain: judging by recent production patterns, the $1, $5 and $10 bills (aka Federal Reserve Notes), all of which saw their lowest production in 30 years in 2010, will soon suffer the fate of the dodo!
Trader Dan on the King World News Metals Wrap
Trader Dan at Trader Dan's Market Views - 5 hours ago
Please click on the following link to listen in to my regular weekly radio
interview with Eric King on the KWN Weekly Metals Wrap where we discuss
this week's action in the gold and silver markets as well as the mining
shares.
*http://tinyurl.com/8wyjjx6*
Extraordinary Popular Delusions And The 'Madness' Of Bond And Gold Markets
Whether
its new-fangled Japanese stocks, hi-tech internet company valuations,
multi-colored flowers, or mansions made affordable by criminally lax
lending standards, Grant Williams notes that a bubble is a bubble is a bubble; and citing Stein's Law: "If something cannot go on forever; it will stop."
In this excellent summary of all things currently (and historically)
bubblicious - whether greed-driven or fear-driven - Williams concludes it is never different this time as he addresses the four phases of the classic bubble-wave: smart-money, awareness, mania, blow-off (or crash) and explains how government bonds are set to burst and gold is only just about to enter its mania phase.
This far-reaching and entirely accessible presentation is stunning in
its clarity and as he notes, while bubbles are always easy to spot
ex-ante, understanding how they come about and why they are popped gives
the few an opportunity to profit at the expense of the madness of
crowds. From tulips to tech-wrecks, and from inflation to insatiable
stimulus, the bubble in 'safe-haven flows' that currently exists has all the characteristics of a popular delusion.There Is Inflation In The System But It’s Not Obvious
Admin at Marc Faber Blog - 13 hours ago
The costs of living have increased for most people and are higher than the
official figures. Some economists say that there is little consumer price
inflation. But there is, because the money-printing has lifted asset prices
like those for luxury property, art, equities or bonds. There is inflation
in the system but it’s not obvious. - *in Emerging Markets*
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*
from TF Metals Report:
Time to bust out this sorry-looking SOB again.
I wasn’t planning on writing anything today but then it dawned on me:
I lived through it and wrote about it on the old “Watchtower” site . Here’s a sample of the mood and tone from that period: http://tfmetalsreport.blogspot.com/2011/01/darkest-before-dawn.html
Read More @ TF Metals Report.com
from RonPaulCC2012 :
Time to bust out this sorry-looking SOB again.I wasn’t planning on writing anything today but then it dawned on me:
- After yesterday, everyone needs a subtle reminder that all is not lost.
- Many folks come and go all week and may have missed the general theme.
I lived through it and wrote about it on the old “Watchtower” site . Here’s a sample of the mood and tone from that period: http://tfmetalsreport.blogspot.com/2011/01/darkest-before-dawn.html
Read More @ TF Metals Report.com
from RonPaulCC2012 :
from Testosterone Pit.com:
It was a blatant act of fear mongering just before the EU Summit: if
Greece were allowed to default and exit the Eurozone, it could trigger
the exits of Portugal, Spain, and Italy, which, in a worst-case
scenario, could cost the world economy €17.2 trillion in economic
growth. “Hence it is incumbent upon the community of nations to prevent
Greece from a sovereign default as well as leaving the euro, and the
domino effect that this event could induce,” the study urged.
The study was commissioned by the politically powerful Bertelsmann Foundation, which owns 77.6% of Bertlesmann SE & Co., a multinational media company based in Germany. The foundation is known for its agenda—now including the doctrine that taxpayers must always bail out certain bondholders in order to prop up confidence in the financial markets.
“Insolvency procrastination” is how a quintessential German industrialist responded. And if after Greece’s exit, the whole Eurozone dissolved? “To throw good money after bad is something that normally only over-indebted businesspeople do,” he said. “It’s irresponsible.”
Read More @ TestosteronePit.com
It was a blatant act of fear mongering just before the EU Summit: if
Greece were allowed to default and exit the Eurozone, it could trigger
the exits of Portugal, Spain, and Italy, which, in a worst-case
scenario, could cost the world economy €17.2 trillion in economic
growth. “Hence it is incumbent upon the community of nations to prevent
Greece from a sovereign default as well as leaving the euro, and the
domino effect that this event could induce,” the study urged.The study was commissioned by the politically powerful Bertelsmann Foundation, which owns 77.6% of Bertlesmann SE & Co., a multinational media company based in Germany. The foundation is known for its agenda—now including the doctrine that taxpayers must always bail out certain bondholders in order to prop up confidence in the financial markets.
“Insolvency procrastination” is how a quintessential German industrialist responded. And if after Greece’s exit, the whole Eurozone dissolved? “To throw good money after bad is something that normally only over-indebted businesspeople do,” he said. “It’s irresponsible.”
Read More @ TestosteronePit.com
from Azizonomics:
The mathematics professor Alan Sokal famously shamed much of the humanities profession by publishing ‘Transgressing the Boundaries: Towards a Transformative Hermeneutics of Quantum Gravity’ — a paper intended as ambiguous gobbledegook — in the peer-reviewed postmodern cultural studies Journal Social Text in 1996.
Sokal’s paper was a cleverly and artfully constructed piece of trolling. Sokal did it by conforming to the stylistic trappings of postmodernists like Jacques Derrida, Jean Baudrillard and Luce Irigaray — mimicking their dense and obscure verbiage, misusing concepts from science like quantum gravity (of which there exists no widely accepted scientific theory), and shrouding his argument in a great deal of ambiguity. The piece described the notion of a “postmodern science”, one that discarded the notion of objective truth.
Read More @ Azizonomics.com
from TruthNeverTold :
The mathematics professor Alan Sokal famously shamed much of the humanities profession by publishing ‘Transgressing the Boundaries: Towards a Transformative Hermeneutics of Quantum Gravity’ — a paper intended as ambiguous gobbledegook — in the peer-reviewed postmodern cultural studies Journal Social Text in 1996.Sokal’s paper was a cleverly and artfully constructed piece of trolling. Sokal did it by conforming to the stylistic trappings of postmodernists like Jacques Derrida, Jean Baudrillard and Luce Irigaray — mimicking their dense and obscure verbiage, misusing concepts from science like quantum gravity (of which there exists no widely accepted scientific theory), and shrouding his argument in a great deal of ambiguity. The piece described the notion of a “postmodern science”, one that discarded the notion of objective truth.
Read More @ Azizonomics.com
from TruthNeverTold :
from Silver Doctors:
In The Warning, veteran FRONTLINE producer Michael Kirk unearths the
hidden history of the nation’s worst financial crisis since the Great
Depression. At the center of it all he finds Brooksley Born, who speaks
for the first time about her failed campaign to regulate the
secretive, multitrillion-dollar derivatives market whose crash helped
trigger the financial collapse in the fall of 2008.
“I didn’t know Brooksley Born,” says former SEC Chairman Arthur Levitt. “I was told that she was irascible, difficult, stubborn, unreasonable.” Levitt explains how the other principals of the Working Group on Financial Markets- former Fed Chairman Alan Greenspan and former Treasury Secretary Robert Rubin — convinced him that Born’s attempt to regulate the risky derivatives market could lead to financial turmoil, a conclusion he now believes was “clearly a mistake.”
Born’s battle behind closed doors was epic, Kirk finds. The members of the President’s Working Group vehemently opposed regulation – especially when proposed by a Washington outsider like Born.
Read More @ Silver Doctors
In The Warning, veteran FRONTLINE producer Michael Kirk unearths the
hidden history of the nation’s worst financial crisis since the Great
Depression. At the center of it all he finds Brooksley Born, who speaks
for the first time about her failed campaign to regulate the
secretive, multitrillion-dollar derivatives market whose crash helped
trigger the financial collapse in the fall of 2008.“I didn’t know Brooksley Born,” says former SEC Chairman Arthur Levitt. “I was told that she was irascible, difficult, stubborn, unreasonable.” Levitt explains how the other principals of the Working Group on Financial Markets- former Fed Chairman Alan Greenspan and former Treasury Secretary Robert Rubin — convinced him that Born’s attempt to regulate the risky derivatives market could lead to financial turmoil, a conclusion he now believes was “clearly a mistake.”
Born’s battle behind closed doors was epic, Kirk finds. The members of the President’s Working Group vehemently opposed regulation – especially when proposed by a Washington outsider like Born.
Read More @ Silver Doctors
from KingWorldNews:
The KWN Weekly Metals Wrap – We have added new segments to the KWN
Weekly Metals Wrap covering gold, silver, trading and a plethora of
other factors affecting the precious metals markets. I am giving King
World News listeners globally access to what has long been my secret
weapons in researching where gold and silver are headed directionally
along with the COT Report. We Cover the Commitment of Traders Report in
detail as well as a number of other factors which can influence the gold
and silver market price action.
Bill Haynes and Dan Norcini AUDIO INTERVIEW @ KingWorldNews.com
Thank You
I'm PayPal Verified
The KWN Weekly Metals Wrap – We have added new segments to the KWN
Weekly Metals Wrap covering gold, silver, trading and a plethora of
other factors affecting the precious metals markets. I am giving King
World News listeners globally access to what has long been my secret
weapons in researching where gold and silver are headed directionally
along with the COT Report. We Cover the Commitment of Traders Report in
detail as well as a number of other factors which can influence the gold
and silver market price action.Bill Haynes and Dan Norcini AUDIO INTERVIEW @ KingWorldNews.com
by Norse Prepper, SHTFPlan:
Do you remember “the good old days”? It’s a simple question, but a
question that induces different images to different people. I have
found myself spending a lot of time lately thinking of the way things
used to be and hoping that someday our country can somehow get back to
those days again. Looking at our current state of affairs in this
nation and around the world, there is only one conclusion that can be
made…the good old days are over.
I wrote this article because children being born today, in my opinion, will not be able to look back and remember the near future as “the good old days”. As I write this, the US national debt is at $16.2 trillion with unfunded liabilities of $123.3 trillion. With Uncle Ben’s QE3 promising to print fiat money perpetually can there be any doubt that the days of the US dollar being the world currency are numbered. Everyone reading this article has a share of $442,881 of the nation’s debt and liabilities. If your children or grandchildren can’t read yet, please tell them that they also owe $442,881 as well and thank them for supporting our wasteful spending that got us to this point. Source: http://usadebtclock.com/
Read More @ SHTFPlan.com
Today’s Items:
Finally, please prepare now for the escalating economic and social unrest. Good Day!
Your support is needed...
Do you remember “the good old days”? It’s a simple question, but a
question that induces different images to different people. I have
found myself spending a lot of time lately thinking of the way things
used to be and hoping that someday our country can somehow get back to
those days again. Looking at our current state of affairs in this
nation and around the world, there is only one conclusion that can be
made…the good old days are over.I wrote this article because children being born today, in my opinion, will not be able to look back and remember the near future as “the good old days”. As I write this, the US national debt is at $16.2 trillion with unfunded liabilities of $123.3 trillion. With Uncle Ben’s QE3 promising to print fiat money perpetually can there be any doubt that the days of the US dollar being the world currency are numbered. Everyone reading this article has a share of $442,881 of the nation’s debt and liabilities. If your children or grandchildren can’t read yet, please tell them that they also owe $442,881 as well and thank them for supporting our wasteful spending that got us to this point. Source: http://usadebtclock.com/
Read More @ SHTFPlan.com
Today’s Items:
Mexico has joined other nations on the war on cash. In about 90 days, cash transaction over half million pesos, or about $39,000, will be illegal. Violation of this law caries a penalty of five years in prison and Mexican prisons are not the country club like prisons in the US.
French President Hollande seems to think
that the euro zone is “on track” to solving its crisis during yet
another summit. Greece on fire, Spain and Italy in fiscal turmoil and
Germany being asked to bail out everyone. Yes, the EU is back on
track; however, the track leads right over the fiscal cliff.
Just imagine a Bush vs. Gore tie fiasco
coming at the same time as a major fiscal cliff. Things are gearing up
for such a scenario in this election where the political wheels will be
frozen solid as people fight for the position of head puppet. On top
of that, add the tax increases and the mandatory government spending
cuts and one can easily imagine absolute chaos.
A recent survey finds that 40% of
Americans have less than $500 in savings. Not all respondents were
poor. In fact, some had big houses, big mortgages or 401(k)s; however,
they did not have five Benjamin’s to rub together right now. One
should have an emergency fund
set aside to address unforeseen circumstances and $500 just does not
cut it. Of course, loss of jobs due to lack of demand is not
unforeseen.
First IBM, then Intel, and now Google.
The quarterly statements from these three, and others, are showing that
this economy, despite the BS put forth by the mainstream media and
politicians, is beginning to grind to a halt. The only real
counterbalance to this negative economic activity is the the fact that
the FED is printing money out of thin air. And that will only last so
long before the whole house of cards crashes down.
HR 6566 would amend the Homeland Security
Act to mandate that FEMA immediately begin conducting “mass fatality
planning” in preparation for a major event or series of events that may
kill off untold numbers of people. The bill would set up a FEMA dictator
with the power to control how local communities, private businesses,
nonprofit organizations, religious organizations, and even individuals
prepare for and respond to a mass fatality event. What do they know
folks?
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