by John Rubino, DollarCollapse.com:
The Fed just spoke. Here’s a slightly edited transcript:
The Fed just spoke. Here’s a slightly edited transcript:
Blah blah blah … the
economy has been expanding moderately … blah blah blah boilerplate
inanity blatant lie … the Committee seeks to foster maximum employment
and price stability ….
To support a
stronger economic recovery and to help ensure that inflation, over time,
is at levels consistent with the dual mandate, the Committee expects to
maintain a highly accommodative stance for monetary policy. In
particular, the Committee decided today to keep the target range for the
federal funds rate at 0 to 1/4 percent and currently anticipates that
economic conditions–including low rates of resource utilization and a
subdued outlook for inflation over the medium run–are likely to warrant
exceptionally low levels for the federal funds rate at least through
late 2014.
Read More @ DollarCollapse.com
Jim Sinclair: Mainstream Entities Will Now Enter Gold Market
from King World News:
With
gold and silver exploding to the upside on the Fed announcement, today
King World News interviewed legendary Jim Sinclair, to get his take on
where things are headed. Sinclair told KWN he now expects mainstream
entities to enter the gold market. Here is what Sinclair had to say:
“Today is an important day. There are many days we talk but this is a
mile-marker. What the Fed did today is they turned on the light of what
will be QE to infinity. Today the light went on with regards to the
intentions of the Fed. They did that for very specific reasons, we have
troubles people can’t see and this is one of the ways out.”
Jim Sinclair continues: Read More @ KingWorldNews.com
With
gold and silver exploding to the upside on the Fed announcement, today
King World News interviewed legendary Jim Sinclair, to get his take on
where things are headed. Sinclair told KWN he now expects mainstream
entities to enter the gold market. Here is what Sinclair had to say:
“Today is an important day. There are many days we talk but this is a
mile-marker. What the Fed did today is they turned on the light of what
will be QE to infinity. Today the light went on with regards to the
intentions of the Fed. They did that for very specific reasons, we have
troubles people can’t see and this is one of the ways out.”Jim Sinclair continues: Read More @ KingWorldNews.com
All Eyes Turning to Portugal as Greek Default a Reality/FOMC report: ZIRP until 2014
Good evening Ladies and Gentlemen; Gold closed up today by a rather large $33.60 to $1699.80. Silver also responded in kind rising by $1.16 to $33.09. Gold and silver responded with the FOMC announcement that zero rate interest policy (ZIRP) will be with us for at least until 2013 and 2014. Gold and silver were down before the announcement, but then jubilation erupted with the news sendingThe Silver Bullet and the Silver Shield – Part 3. Why Silver and NOT Gold
[Ed. Note: Part 1. Part 2.]SILVER & GOLD CURRENCY AND MINERS David Morgan Interviewed by Cambridge House Live
by Patrick A. Heller, Numismaster.com:
In
financial markets, if as asset’s price rises 10 percent in a four-week
period, that would be newsworthy. If an asset rose 25 percent in four
weeks, that would normally grab headlines. That would be true for most
assets, but not for gold or silver.
In the last week of December, gold and silver prices were repeatedly manipulated downward, with some success. During intraday trading on Dec. 27, gold dropped to about $1,510 a troy ounce and silver hit bottom just above $26 an ounce.
At that point, we were besieged with visitors and callers wondering if some so-called experts were accurate when they claimed that gold and silver prices had peaked and it was all downhill from there. Even some people who had been on the gold and silver bandwagon for a decade or longer were starting to wonder if the market cycle was on the downward slope.
Read More @ Numismaster.com
In
financial markets, if as asset’s price rises 10 percent in a four-week
period, that would be newsworthy. If an asset rose 25 percent in four
weeks, that would normally grab headlines. That would be true for most
assets, but not for gold or silver.In the last week of December, gold and silver prices were repeatedly manipulated downward, with some success. During intraday trading on Dec. 27, gold dropped to about $1,510 a troy ounce and silver hit bottom just above $26 an ounce.
At that point, we were besieged with visitors and callers wondering if some so-called experts were accurate when they claimed that gold and silver prices had peaked and it was all downhill from there. Even some people who had been on the gold and silver bandwagon for a decade or longer were starting to wonder if the market cycle was on the downward slope.
Read More @ Numismaster.com
No Time To Say Anything Today
Dave in Denver at The Golden Truth - 2 hours ago
Obviously the Fed was a joke. But, is anyone on CNBC, Bloomberg or Fox Biz talking about the precious metals and miners today? I don't watch those channels so I don't know, but I would bet good money they are not. The HUI is up 6.8% right now. If the the Dow were up 6.8% it would be up 868 points from yesterday's close. I'm pretty sure that every single TV business reporter/anchor would be doing naked cartwheels, popping bottles of Dom and talking about the new economy.
Gold and Silver Price Manipulation
by Debarati Roy, Bloomberg.com:
Gold
provided the best returns of all commodities in the past five years
when adjusted for volatility, and Goldman Sachs Group Inc. says the
rally will continue as options traders signal no change in the metal’s
relatively low risk.
The BLOOMBERG RISKLESS RETURN RANKING shows the Standard & Poor’s GSCI Gold Total Return Index produced a 6.5 percent risk- adjusted return in the five years ended yesterday, the highest among 24 commodities tracked by S&P, data compiled by Bloomberg show. Silver, the next-best performer, yielded a risk-adjusted gain of 3.1 percent, while a total-return index for all raw materials slipped 0.2 percent.
Bullion, which has seen 11 years of gains as investors sought a haven amid two bear markets in stocks and a sovereign debt crisis, also posted the safest return in the past 12 months, even as it fell from a record high to a five-month low in the second half of last year and gold investors led by John Paulson suffered losses. Goldman Sachs forecasts gold will reach a record this year, and a gauge of future price swings is near a five-month low.
Read More @ Bloomberg.com
Gold
provided the best returns of all commodities in the past five years
when adjusted for volatility, and Goldman Sachs Group Inc. says the
rally will continue as options traders signal no change in the metal’s
relatively low risk.The BLOOMBERG RISKLESS RETURN RANKING shows the Standard & Poor’s GSCI Gold Total Return Index produced a 6.5 percent risk- adjusted return in the five years ended yesterday, the highest among 24 commodities tracked by S&P, data compiled by Bloomberg show. Silver, the next-best performer, yielded a risk-adjusted gain of 3.1 percent, while a total-return index for all raw materials slipped 0.2 percent.
Bullion, which has seen 11 years of gains as investors sought a haven amid two bear markets in stocks and a sovereign debt crisis, also posted the safest return in the past 12 months, even as it fell from a record high to a five-month low in the second half of last year and gold investors led by John Paulson suffered losses. Goldman Sachs forecasts gold will reach a record this year, and a gauge of future price swings is near a five-month low.
Read More @ Bloomberg.com
by Patrick Henningsen, InfoWars.com
The USS Liberty incident took place in 1967
“Remember the Maine!”, was the cry back in 1898 from William Randolph Heart’s New York Journal – a forerunner the modern Murdoch press. Then, some 274 men lost their lives as a result of the explosion which sunk the USS Maine in Havana Harbor. Hearst even told a story of how the enemy had planted a torpedo beneath the Maine and detonated it from shore. The only problem was – it never happened. Nonetheless, the event used as the popular pretext for the United State’s entry into the Spanish-American War, and ultimately, the acquisition of Cuba itself by the US. This was now the modern blueprint for using propaganda in conjunction with, what is accepted by many historians, a type of false-flag event.
Some 70 years later, on June 8, 1967, during the Six-Day War, a similar event took place off the coast of Egypt. It could well have been, “Remember the Liberty!”, following an event which saw 34 US men killed and 170 wounded when the USS Liberty was attacked by both the Israeli Air Force and Israeli Navy torpedo boats. History now reveals that Israel’s slaughter of the USS Liberty crew was designed as a false flag event, but luckily Russia intervened at the last minute before Israel could sink the decorated American ship. Had it worked, it could have been used to drag the US and her allies into a new regional, or even a third world war - with who knows what consequences.
Read More @ InfoWars.com
The USS Liberty incident took place in 1967
“Remember the Maine!”, was the cry back in 1898 from William Randolph Heart’s New York Journal – a forerunner the modern Murdoch press. Then, some 274 men lost their lives as a result of the explosion which sunk the USS Maine in Havana Harbor. Hearst even told a story of how the enemy had planted a torpedo beneath the Maine and detonated it from shore. The only problem was – it never happened. Nonetheless, the event used as the popular pretext for the United State’s entry into the Spanish-American War, and ultimately, the acquisition of Cuba itself by the US. This was now the modern blueprint for using propaganda in conjunction with, what is accepted by many historians, a type of false-flag event.
Some 70 years later, on June 8, 1967, during the Six-Day War, a similar event took place off the coast of Egypt. It could well have been, “Remember the Liberty!”, following an event which saw 34 US men killed and 170 wounded when the USS Liberty was attacked by both the Israeli Air Force and Israeli Navy torpedo boats. History now reveals that Israel’s slaughter of the USS Liberty crew was designed as a false flag event, but luckily Russia intervened at the last minute before Israel could sink the decorated American ship. Had it worked, it could have been used to drag the US and her allies into a new regional, or even a third world war - with who knows what consequences.
Read More @ InfoWars.com
from King World News:
Today
billionaire Eric Sprott told King World News the Chinese cannot
continue to buy gold as aggressively as they have been without there
being a dramatic increase in the price. Eric Sprott, Chairman of Sprott
Asset Management, had this to say about Chinese purchases of gold and
the recent announcement that Iranian oil will be acquired using gold:
“There are two things I think are important about that. One, it’s a
statement that gold is a currency. That is by far the most important
thing. I think the other thing is, if it actually transpires that way,
what does it mean for the demand for gold? Because now it’s considered
currency, it’s, in essence, your working capital. You have to have it.
It’s like a store, you have to have money in the till.”
Eric Sprott continues: Read More @ KingWorldNews.com
Today
billionaire Eric Sprott told King World News the Chinese cannot
continue to buy gold as aggressively as they have been without there
being a dramatic increase in the price. Eric Sprott, Chairman of Sprott
Asset Management, had this to say about Chinese purchases of gold and
the recent announcement that Iranian oil will be acquired using gold:
“There are two things I think are important about that. One, it’s a
statement that gold is a currency. That is by far the most important
thing. I think the other thing is, if it actually transpires that way,
what does it mean for the demand for gold? Because now it’s considered
currency, it’s, in essence, your working capital. You have to have it.
It’s like a store, you have to have money in the till.”Eric Sprott continues: Read More @ KingWorldNews.com
from The Daily Bell:
Isn’t it just as likely that Britain will hit the rocks and break up? … In the period immediately after the Costa Concordia hit a rock off the coast of Tuscany, the behaviour of the passengers and crew has given us all sorts of insights into the eternal glories and failings of human nature. Perhaps the most symbolically pregnant gesture took place in the dining room. When the crockery started to slide from the tables, as the ship began to list, the waiters just picked it up and put it back. “It is nothing!” they said soothingly. “It is an electrical fault. Tutto va bene and what would madame like for the antipasto?”… I am like the Concordia waiters, in that I can’t really believe, somehow, that we can be set on a course for destruction. But look at the facts, my friends. Look at that submerged reef marked “devo max”, or fiscal independence for Scotland. If you can unpick the fiscal union, what is there to maintain the monetary union? And if you unpick monetary union — as George Osborne rightly points out — then political union is dead … That is the nature of slo-mo disasters: they can change very quickly, from being an outlandish theoretical possibility to a predestined inevitability. – Boris Johnson, UK Telegraph
Dominant Social Theme: Things fall apart. The center cannot hold.
Free-Market Analysis: The Telegraph’s Boris Johnson has written an interesting article on the potential break-up of Britain, comparing it to the unexpected Costa Concordia cruise ship disaster.
Read More @ TheDailyBell.com
Isn’t it just as likely that Britain will hit the rocks and break up? … In the period immediately after the Costa Concordia hit a rock off the coast of Tuscany, the behaviour of the passengers and crew has given us all sorts of insights into the eternal glories and failings of human nature. Perhaps the most symbolically pregnant gesture took place in the dining room. When the crockery started to slide from the tables, as the ship began to list, the waiters just picked it up and put it back. “It is nothing!” they said soothingly. “It is an electrical fault. Tutto va bene and what would madame like for the antipasto?”… I am like the Concordia waiters, in that I can’t really believe, somehow, that we can be set on a course for destruction. But look at the facts, my friends. Look at that submerged reef marked “devo max”, or fiscal independence for Scotland. If you can unpick the fiscal union, what is there to maintain the monetary union? And if you unpick monetary union — as George Osborne rightly points out — then political union is dead … That is the nature of slo-mo disasters: they can change very quickly, from being an outlandish theoretical possibility to a predestined inevitability. – Boris Johnson, UK Telegraph
Dominant Social Theme: Things fall apart. The center cannot hold.
Free-Market Analysis: The Telegraph’s Boris Johnson has written an interesting article on the potential break-up of Britain, comparing it to the unexpected Costa Concordia cruise ship disaster.
Read More @ TheDailyBell.com
from ZeroHedge:
As we have pointed out previously, the primary if not only driver of relative risk returns (because in a world of relative fiat value destruction it is all relative, except for gold which is revalued relative to all equally), will be who of the big two – the Fed and the ECB – can print more. And up until now, at least since the end of December when the market “suddenly” realized that the ECB’s balance sheet has soared to unseen records, the consensus was that it was the ECB that would be the primary source of easing. Especially when considering that there is another ~€500 billion LTRO due on February 29. Yet today’s rapid reversal in the EURUSD, driven by Bernanke’s uber-dovish comments suggest that something has changed and that the Fed is now expected to ease substantially. How much? For that we look to the latest balance sheet cross-correlation, where if we go by simple correlation, the market is now pricing in (based on the EURUSD cross ratio) that the relationship of the two balance sheets will rise from a multi year low of 1.08 as of a few days ago to 1.15, at least based on the rapid move in the EURUSD higher as can be seen in the chart below. Indicatively, the actual value of the two balance sheets is €2.706 trillion for the ECB and $2.92 trillion for the Fed (or a 1.08 ratio). So now that the EURUSD has risen as high as it has, it implies that the pro forma “priced in” ratio is about 1.15. But wait: one should also factor in the fact that the ECB’s balance sheet will rise by at least another €500 billion in just over a month, which will bring the ECB’s balance sheet to €3.2 trillion. Which means that to retain the 1.15 cross balance sheet relationship, the Fed’s own balance sheet will have to rise to $3,687 billion, or a whopping $767 billion increase!
Read More @ ZeroHedge.com
I have been contacted by a number of soldiers asking what they can do on practical terms to fight what is happening to our country. These letters weighed heavily on me. I wanted to respond in a video, but I felt that the best person to give that answer would be Stewart Rhodes. Stewart’s work has had a massive impact on my thinking, and on the way that I approach this topic, so I’m very happy to have him here to communicate his perspective directly.
As we have pointed out previously, the primary if not only driver of relative risk returns (because in a world of relative fiat value destruction it is all relative, except for gold which is revalued relative to all equally), will be who of the big two – the Fed and the ECB – can print more. And up until now, at least since the end of December when the market “suddenly” realized that the ECB’s balance sheet has soared to unseen records, the consensus was that it was the ECB that would be the primary source of easing. Especially when considering that there is another ~€500 billion LTRO due on February 29. Yet today’s rapid reversal in the EURUSD, driven by Bernanke’s uber-dovish comments suggest that something has changed and that the Fed is now expected to ease substantially. How much? For that we look to the latest balance sheet cross-correlation, where if we go by simple correlation, the market is now pricing in (based on the EURUSD cross ratio) that the relationship of the two balance sheets will rise from a multi year low of 1.08 as of a few days ago to 1.15, at least based on the rapid move in the EURUSD higher as can be seen in the chart below. Indicatively, the actual value of the two balance sheets is €2.706 trillion for the ECB and $2.92 trillion for the Fed (or a 1.08 ratio). So now that the EURUSD has risen as high as it has, it implies that the pro forma “priced in” ratio is about 1.15. But wait: one should also factor in the fact that the ECB’s balance sheet will rise by at least another €500 billion in just over a month, which will bring the ECB’s balance sheet to €3.2 trillion. Which means that to retain the 1.15 cross balance sheet relationship, the Fed’s own balance sheet will have to rise to $3,687 billion, or a whopping $767 billion increase!
Read More @ ZeroHedge.com
Veterans March for Ron Paul Announcements – MONEY GRENADE – 01.Feb.2012!!!
Organizing a Military Stand Down Against NDAA – SCG Interviews Stewart Rhodes of OathKeepers
Stewart Rhodes, founder of OathKeepers talks about the NDAA, and why massive civil disobedience is needed in conjunction with a military stand down.I have been contacted by a number of soldiers asking what they can do on practical terms to fight what is happening to our country. These letters weighed heavily on me. I wanted to respond in a video, but I felt that the best person to give that answer would be Stewart Rhodes. Stewart’s work has had a massive impact on my thinking, and on the way that I approach this topic, so I’m very happy to have him here to communicate his perspective directly.
from The Daily Bell:
“The EU has delivered on its threat to ban the import of crude oil from Iran, in response to its nuclear programme. The latest round of sanctions prohibits any new oil contracts, while allowing for existing deals to run until July. But Tehran is apparently finding ways to keep business pumping. Reports say Iran will keep supplying one of its biggest customers − India − but will get payment in gold instead of dollars.” – RT
Dominant Social Theme: The world is in a downward spiral. So many things going wrong at once. Bad luck!
Free-Market Analysis: We’ve waited a bit to comment once more on what may be an upcoming Iranian war, but that’s only because we wanted to see if a pattern was emerging that we could make sense of.
The power elite, as we see it, is increasingly threatened by what we call the Internet Reformation. To counteract it, the elites have turned to the same playbook they used to try to counteract the first big information revolution that occurred after the discovery of mechanical printing (the Gutenberg Press).
Read More (and Watch the Video) @ TheDailyBell.com
“The EU has delivered on its threat to ban the import of crude oil from Iran, in response to its nuclear programme. The latest round of sanctions prohibits any new oil contracts, while allowing for existing deals to run until July. But Tehran is apparently finding ways to keep business pumping. Reports say Iran will keep supplying one of its biggest customers − India − but will get payment in gold instead of dollars.” – RT
Dominant Social Theme: The world is in a downward spiral. So many things going wrong at once. Bad luck!
Free-Market Analysis: We’ve waited a bit to comment once more on what may be an upcoming Iranian war, but that’s only because we wanted to see if a pattern was emerging that we could make sense of.
The power elite, as we see it, is increasingly threatened by what we call the Internet Reformation. To counteract it, the elites have turned to the same playbook they used to try to counteract the first big information revolution that occurred after the discovery of mechanical printing (the Gutenberg Press).
Read More (and Watch the Video) @ TheDailyBell.com
by Jeff Nielson, Bullion Bulls Canada:
In Part I,
I laid out for readers the extraordinary scenario which exists in the
silver market today. The individuals/entities operating the silver
market; compiling data on it; and reporting on it (at least from the
mainstream) display no understanding of either the general principles of
markets, nor of the specific fundamentals of their own sector.
In the first part of this series I focused on analysis provided by GFMS, one of two quasi-official consultants for the silver (and gold) sector who provide the data most widely relied upon for this market. Specifically I looked at GFMS’ reporting on the silver market for the year 2002. I noted that despite the price of silver hovering near its 600-year low; despite the fact inventories had plummeted by more than 75% in little more than a decade; and despite the fact that production was currently falling; GFMS saw neither any need nor any indication of higher prices for silver. Indeed, these “experts” even mused that the price might fall further.
Read More @ BullionBullsCanada.com
by Jeffrey Tucker, Whiskey and Gun Powder:
The
debate about the Fed is under way, and thank goodness. But as with many
policy debates, there really shouldn’t be a debate at all. That’s
because, if you think about it, the idea of central banking makes no
sense.
We don’t have a government-created central repository that plans and manages shoe distribution. The market takes care of that. We don’t have one for cabbage, keyboards or curtains. Somehow, we get books, clothes, tree-cutting services and everything else we need and want without a central planning agency that manages the quantity available, fixes the prices of the products and bails out the firms when they overextend themselves.
Why should money and banking be any different? Money is a commodity. Banking is a business. They both originated in the market, not the state. They should have been left that way, so that the quality of the product could be subject to market discipline. In a market economy, things work themselves out. There is supply and there is demand. Entrepreneurs take notice of profit opportunities and jump in to pull the two together.
Read More @ WhiskeyAndGunPowder.com
Total Donations in 2011 $155.00 (6 Donors Thank You)
Total Donations in 2012 $0.00
In Part I,
I laid out for readers the extraordinary scenario which exists in the
silver market today. The individuals/entities operating the silver
market; compiling data on it; and reporting on it (at least from the
mainstream) display no understanding of either the general principles of
markets, nor of the specific fundamentals of their own sector.In the first part of this series I focused on analysis provided by GFMS, one of two quasi-official consultants for the silver (and gold) sector who provide the data most widely relied upon for this market. Specifically I looked at GFMS’ reporting on the silver market for the year 2002. I noted that despite the price of silver hovering near its 600-year low; despite the fact inventories had plummeted by more than 75% in little more than a decade; and despite the fact that production was currently falling; GFMS saw neither any need nor any indication of higher prices for silver. Indeed, these “experts” even mused that the price might fall further.
Read More @ BullionBullsCanada.com
The
debate about the Fed is under way, and thank goodness. But as with many
policy debates, there really shouldn’t be a debate at all. That’s
because, if you think about it, the idea of central banking makes no
sense.We don’t have a government-created central repository that plans and manages shoe distribution. The market takes care of that. We don’t have one for cabbage, keyboards or curtains. Somehow, we get books, clothes, tree-cutting services and everything else we need and want without a central planning agency that manages the quantity available, fixes the prices of the products and bails out the firms when they overextend themselves.
Why should money and banking be any different? Money is a commodity. Banking is a business. They both originated in the market, not the state. They should have been left that way, so that the quality of the product could be subject to market discipline. In a market economy, things work themselves out. There is supply and there is demand. Entrepreneurs take notice of profit opportunities and jump in to pull the two together.
Read More @ WhiskeyAndGunPowder.com
Total Donations in 2012 $0.00
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