from gpc1981, Gains Pains & Capital:
It’s a simply question of math.
I realize my views on Europe are much in the minority. The entire world continues to believe that somehow Mario Draghi or Ben Bernanke have a magical button they can hit that will solve the EU Crisis.
Most people believe that magical button is the “print” button. But this completely overlooks the fact that Europe is facing a solvency crisis, not a liquidity crisis. It’s a key difference. In a liquidity crisis, financial firms needs easy money to meet short-term funding needs because interbank lending has dried up.
In a solvency crisis, a bank has far too many assets relative to its equity/ capital base. In this scenario the issue is NOT one of too little liquidity, but one of TOO MUCH Debt relative to actual capital/equity (neither of which can be increased by lending more money to the firm).
Put it this way… Europe’s banks in general are leveraged at 26 to 1. This means that for every €1 they have in equity/ capital, they have €26 in assets (which are in fact loans they’ve made to EU governments, EU businesses, etc.).
Read More @ GainsPainsCapital.com
It’s a simply question of math.
I realize my views on Europe are much in the minority. The entire world continues to believe that somehow Mario Draghi or Ben Bernanke have a magical button they can hit that will solve the EU Crisis.
Most people believe that magical button is the “print” button. But this completely overlooks the fact that Europe is facing a solvency crisis, not a liquidity crisis. It’s a key difference. In a liquidity crisis, financial firms needs easy money to meet short-term funding needs because interbank lending has dried up.
In a solvency crisis, a bank has far too many assets relative to its equity/ capital base. In this scenario the issue is NOT one of too little liquidity, but one of TOO MUCH Debt relative to actual capital/equity (neither of which can be increased by lending more money to the firm).
Put it this way… Europe’s banks in general are leveraged at 26 to 1. This means that for every €1 they have in equity/ capital, they have €26 in assets (which are in fact loans they’ve made to EU governments, EU businesses, etc.).
Read More @ GainsPainsCapital.com
from KingWorldNews:
Today acclaimed money manager Stephen Leeb told King World News that we are headed into massive inflation and a major spike in the gold price. Leeb, who is Chairman of Leeb Capital Management, also said that “Fortunes will be made by savvy investors in this sector.” Leeb stated, “We saw a mania in the gold shares at the end of the 70s and we are going to see one again this time around.”
Here is what Leeb had to say: “The economy is going to get worse. The price of resources has jumped over time and that has acted as a huge tax on consumers. But we are going to see another huge uptick in inflation going forward. This time the rise in prices will not be stopped by the Federal Reserve.”
“In fact, the inflation may even be fostered by the Fed. Brent crude is trading over $112 again, and gas at the pump is already rising. Bernanke today, I’m quoting a headline, ‘Bernanke says economic data may mask suffering of individuals.’ I agree with that, but I’m still surprised to hear a Fed Chairman saying that.
Stephen Leeb continues @ KingWorldNews.com
from Silver Doctors:
W
e are only 1 week into the month of August, but the US Mint has updated
their August sales totals for gold and silver to indicate the Mint has
sold 4,000 ounces of gold, vs. 765,000 ounces of silver month-to-date.
This is a sales ratio of an unthinkable 191.25 to 1 for silver vs. gold!
Granted this data is merely for the first week of August, but this is an unprecedented and astronomical ratio of physical silver vs. gold for the Mint. Over the past few years the ratio has typically hovered in the range of 50 to 1, which our friend Eric Sprott continually stresses is completely unsustainable!
August’s sales data is nearly 4 times the already astronomical 50:1 sales rates seen over the past 2 years!
We will continue to closely monitor the US Mint’s total silver vs. gold sales, as clearly selling 191 times as much physical silver vs. gold is unsustainable over the long term when the natural in-ground ratio is approximately 10 to 1!
See Video @ Silver Doctors
W
e are only 1 week into the month of August, but the US Mint has updated
their August sales totals for gold and silver to indicate the Mint has
sold 4,000 ounces of gold, vs. 765,000 ounces of silver month-to-date.This is a sales ratio of an unthinkable 191.25 to 1 for silver vs. gold!
Granted this data is merely for the first week of August, but this is an unprecedented and astronomical ratio of physical silver vs. gold for the Mint. Over the past few years the ratio has typically hovered in the range of 50 to 1, which our friend Eric Sprott continually stresses is completely unsustainable!
August’s sales data is nearly 4 times the already astronomical 50:1 sales rates seen over the past 2 years!
We will continue to closely monitor the US Mint’s total silver vs. gold sales, as clearly selling 191 times as much physical silver vs. gold is unsustainable over the long term when the natural in-ground ratio is approximately 10 to 1!
See Video @ Silver Doctors
Who's Afraid Of Income Inequality?
Emotion, while an important element in man’s array of mental tools, can unfortunately triumph over reason in crucial matters.
In the context of simple economic reasoning, today’s intellectual
establishment often disregards common sense in favor of emotional-tinged
policy proposals that rely on feelings of jealously, envy, and blind
patriotism for validation rather than logical deduction. “Eat the rich”
schemes such as progressive taxation and income redistribution are
used by leftists who style themselves as champions of the poor. Plucking
on the emotional strings of envy makes it easier to arouse widespread
support for economic intervention via the state. Printed money is not the same as accumulated savings which would otherwise fund sustainable lines of investment. The truth is that capital is always scarce; there is never enough of it. Krugman
and Stiglitz believe, as most do, that Americans should be born with
the opportunity to succeed. What they fail to see (or refuse to
acknowledge) is that the free market provides the best opportunities
for someone to make a decent living by providing goods and services.Moment Of Exquisite Mogambo Revenge (MOEMR)!
Richard Daughty, a.k.a., 'The Mogambo Guru' at Mogambo Guru Report! - 1 hour ago
August 3, 2012 Mogambo Guru
I'm obviously the kind of guy who trusts no one, and for good reasons and
for bad reasons. But reasons. Lots of them. Thousands of reasons!
Like those phone calls where I merrily answer "Hello?" and they,
mysteriously, hang up.
Or when I answer a phone call by saying, "Hello? Is this the idiot who
called, and then hung up when I said 'hello'?", and then the caller says,
"No! You're an idiot!" THEN they hang up! Weird!
I mean, how do you make sense of ANY of that, except by first assuming
that everybody is out to get you, then it... more »
by Scott Silva, Gold Seek:
To QE or not to QE. That is the question. The markets waited for the
Fed Chairman to announce it is time to jump in with another round of
restorative stimulus, and had bid up nicely before Big Ben disappointed
once again at the conclusion of last week’s FOMC meeting, stating,“The Committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.”
Hardly stimulating. The markets responded by selling off, but not as sharply as usual following a Bernanke punt. Traders held out hope that the ECB might do something bold. But alas, Mario Draghi seemed content to sit on the edge of the bed as well. Apparently, now is not the time for the central banks to begin a new bond-buying binge. The bankers must have insight other do not. Could it be that that they expect economic conditions to deteriorate further, or do they see signs of a sudden turnaround? Most analysts are pessimistic on the prospect that the Eurozone debt crisis can be contained. And many do not see the US recovery happening until a pro-growth president takes the oath of office.
Read More @ GoldSeek.com
from Richard Ebeling, The Daily Bell:
(The following testimony was delivered before the House of Representatives Subcommittee on Domestic Monetary Policy and Technology, chaired by Congressman Ron Paul (R-Texas), on “Sound Money: Parallel Currencies and the Roadmap to Monetary Freedom,” in Washington, D.C. on August 2, 2012.)
“The gold standard alone is what the nineteenth-century freedom-loving leaders (who championed representative government, civil liberties, and prosperity for all) called “sound money.” The eminence and usefulness of the gold standard consists in the fact that it makes the supply of money depend on the profitability of mining gold, and thus checks large-scale inflationary ventures on the part of governments.”
Ludwig von Mises
To discuss a possible roadmap to monetary freedom in the United States requires us to first determine what may be viewed as a “sound” or “unsound” money. Through most of the first 150 years of U.S. history, “sound money” was considered to be one based on a commodity standard, most frequently either gold or silver. In contrast, the history of paper, or fiat, monies was seen as an account of abuse, mismanagement and financial disaster, and thus “unsound” money.
Read More @ TheDailyBell.com
(The following testimony was delivered before the House of Representatives Subcommittee on Domestic Monetary Policy and Technology, chaired by Congressman Ron Paul (R-Texas), on “Sound Money: Parallel Currencies and the Roadmap to Monetary Freedom,” in Washington, D.C. on August 2, 2012.)
“The gold standard alone is what the nineteenth-century freedom-loving leaders (who championed representative government, civil liberties, and prosperity for all) called “sound money.” The eminence and usefulness of the gold standard consists in the fact that it makes the supply of money depend on the profitability of mining gold, and thus checks large-scale inflationary ventures on the part of governments.”
Ludwig von Mises
To discuss a possible roadmap to monetary freedom in the United States requires us to first determine what may be viewed as a “sound” or “unsound” money. Through most of the first 150 years of U.S. history, “sound money” was considered to be one based on a commodity standard, most frequently either gold or silver. In contrast, the history of paper, or fiat, monies was seen as an account of abuse, mismanagement and financial disaster, and thus “unsound” money.
Read More @ TheDailyBell.com
by Mac Slavo, SHTFPlan:
Curiously, one of the leading sponsors of government tracking and data aggregation, info mining behemoth Google, will now be warning us if it suspects that your account is being hacked or monitored by a third-party such as a state intelligence agency:
…Google will warn you every time it picks up activity on your computer account that looks suspiciously like someone trying to monitor your computer activities. Google won’t say how it figured out that state-sponsored attackers may be attempting to compromise your account or computer. But it’s promised to let you know if it thinks Big Brother is tuned in to what you’re doing.
As recently reported on the New York Times’ blog, the warning will pop up at the top of your Gmail inbox, Google home page, or Chrome browser, stating:
”Warning: We believe state-sponsored attackers may be attempting to compromise your account or computer.”
Read More @ SHTFPlan.com
Curiously, one of the leading sponsors of government tracking and data aggregation, info mining behemoth Google, will now be warning us if it suspects that your account is being hacked or monitored by a third-party such as a state intelligence agency:
…Google will warn you every time it picks up activity on your computer account that looks suspiciously like someone trying to monitor your computer activities. Google won’t say how it figured out that state-sponsored attackers may be attempting to compromise your account or computer. But it’s promised to let you know if it thinks Big Brother is tuned in to what you’re doing.
As recently reported on the New York Times’ blog, the warning will pop up at the top of your Gmail inbox, Google home page, or Chrome browser, stating:
”Warning: We believe state-sponsored attackers may be attempting to compromise your account or computer.”
Read More @ SHTFPlan.com
by Dr. Ron Paul, Paul.house.gov:
Last week the House passed yet another bill placing sanctions on Iran and Syria, bringing us closer to another war in the Middle East. We are told that ever harsher sanctions finally will force the targeted nations to bend to our will. Yet the ineffectiveness of previous sanctions teaches us nothing; in truth sanctions lead to war more than they prevent war.
Until last year, Libyan sanctions were touted as a great success story. The regime would change its behavior. Yet NATO bombed the country anyway.
Last week we learned that President Obama signed an intelligence “finding” directing the CIA to covertly assist rebels in Syria. The administration seems determined to fight yet another war in Syria that has nothing to do with American national interests.
We already know that a similar “finding” was signed under the latest Bush administration directing US intelligence to undermine the Iranian government and promote regime change there. Neoconservatives have long demanded that we overthrow the Syrian government before moving on to war against Iran. This bellicosity continues regardless of which party is in the White House.
Read More @ Paul.house.gov
Last week the House passed yet another bill placing sanctions on Iran and Syria, bringing us closer to another war in the Middle East. We are told that ever harsher sanctions finally will force the targeted nations to bend to our will. Yet the ineffectiveness of previous sanctions teaches us nothing; in truth sanctions lead to war more than they prevent war.
Until last year, Libyan sanctions were touted as a great success story. The regime would change its behavior. Yet NATO bombed the country anyway.
Last week we learned that President Obama signed an intelligence “finding” directing the CIA to covertly assist rebels in Syria. The administration seems determined to fight yet another war in Syria that has nothing to do with American national interests.
We already know that a similar “finding” was signed under the latest Bush administration directing US intelligence to undermine the Iranian government and promote regime change there. Neoconservatives have long demanded that we overthrow the Syrian government before moving on to war against Iran. This bellicosity continues regardless of which party is in the White House.
Read More @ Paul.house.gov
Academic study wargames using U.S. troops to quell revolution
by Paul Joseph Watson, Infowars:
An academic study about the future use of the military as a
peacekeeping force within the United States written by a retired Army
Colonel depicts a shocking scenario in which the U.S. Army is used to
restore order to a town that has been seized by Tea Party
“insurrectionists”.
The paper, entitled Full Spectrum Operations in the Homeland: A “Vision” of the Future, was written by Kevin Benson and Jennifer Weber. Retired Colonel Benson, a seminar leader at the University of Foreign Military and Cultural Studies at Fort Leavenworth, also served with the 5th Infantry Division, the 1st Armored Division, the 1st Cavalry Division, the 2nd Cavalry Regiment, XVIII Airborne Corps and Third U.S. Army. Weber is an Associate Professor of History at the University of Kansas.
by Paul Joseph Watson, Infowars:
An academic study about the future use of the military as a
peacekeeping force within the United States written by a retired Army
Colonel depicts a shocking scenario in which the U.S. Army is used to
restore order to a town that has been seized by Tea Party
“insurrectionists”.The paper, entitled Full Spectrum Operations in the Homeland: A “Vision” of the Future, was written by Kevin Benson and Jennifer Weber. Retired Colonel Benson, a seminar leader at the University of Foreign Military and Cultural Studies at Fort Leavenworth, also served with the 5th Infantry Division, the 1st Armored Division, the 1st Cavalry Division, the 2nd Cavalry Regiment, XVIII Airborne Corps and Third U.S. Army. Weber is an Associate Professor of History at the University of Kansas.
The paper begins by emphasizing how the U.S. Army’s
Operating Concept 2016-2028 dictates that the military’s “full spectrum
operations” will include “operations within American borders.”
A scenario in which a group of “political
reactionaries,” later described as “Tea Party insurrectionists” forcibly
take control of a strategic town is then outlined.
The Great Recession of the early twenty-first century lasts far longer than anyone anticipated. After a change in control of the White House and Congress in 2012, the governing party cuts off all funding that had been dedicated to boosting the economy or toward relief. The United States economy has flatlined, much like Japan’s in the 1990s, for the better part of a decade. By 2016, the economy shows signs of reawakening, but the middle and lower-middle classes have yet to experience much in the way of job growth or pay raises. Unemployment continues to hover perilously close to double digits, small businesses cannot meet bankers’ terms to borrow money, and taxes on the middle class remain relatively high. A high-profile and vocal minority has directed the public’s fear and frustration at nonwhites and immigrants. After almost ten years of race-baiting and immigrant-bashing by right-wing demagogues, nearly one in five Americans reports being vehemently opposed to immigration, legal or illegal, and even U.S.-born nonwhites have become occasional targets for mobs of angry whites.Read More @ InfoWars.com
by Susanne Posel, Occupy Corporatism:
Domestic terrorism has come to light with the Sikh shooting. The US government is not only coming after the 2nd Amendment, but now framing US Army veterans in a false flag operation where extremists are the new threat.
Mainstream media (MSM) are pushing the gunman’s background as an Army veteran who “may have been a white supremacist” with a “9/11 tattoo”. US investigators are saying that the suspect shot by police, Wade Michael Page, was a psychological operations specialist from Fort Bragg, North Carolina. Page was trained in parachute deployment and had a good conduct record while also receiving the National Defense Service Medal.
Page’s work as a psy-op specialist would have consisted of analysis, development and distribution of intelligence used to coerce the general population for a specific and desired psychological effect. While some MSM reports are claiming that psy-ops are reserved for foreign nations, it is clear that the US military conduct them on Americans routinely.
Read More @ OccupyCorporatism.com
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Domestic terrorism has come to light with the Sikh shooting. The US government is not only coming after the 2nd Amendment, but now framing US Army veterans in a false flag operation where extremists are the new threat.
Mainstream media (MSM) are pushing the gunman’s background as an Army veteran who “may have been a white supremacist” with a “9/11 tattoo”. US investigators are saying that the suspect shot by police, Wade Michael Page, was a psychological operations specialist from Fort Bragg, North Carolina. Page was trained in parachute deployment and had a good conduct record while also receiving the National Defense Service Medal.
Page’s work as a psy-op specialist would have consisted of analysis, development and distribution of intelligence used to coerce the general population for a specific and desired psychological effect. While some MSM reports are claiming that psy-ops are reserved for foreign nations, it is clear that the US military conduct them on Americans routinely.
Read More @ OccupyCorporatism.com
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by Jonathan Benson, Natural News:
If you run a family farm or other small business in which you regularly
make large cash deposits at the bank, you could be in violation of a
little-known federal law called the Bank Secrecy Act. Making regular cash deposits of any amount, in fact, could land you in the crosshairs of government tyrants who, according to CBN News,
have already seized tens of thousands of dollars from family farmers
whose only “crime” was depositing their hard-earned cash in their bank
accounts.
When it was first passed by the U.S. Congress back in 1970, the Bank Secrecy Act was intended to combat money laundering and other criminal activity by identifying so-called suspicious depositing activity. This law requires financial institutions to keep rigorous documentation of all individual cash deposits exceeding $10,000, which is considered to be suspicious, and submit this information to federal authorities. (http://www.fincen.gov/statutes_regs/bsa/)
Many criminals; however, allegedly began trying to evade this law by spreading out their individual cash deposits to numerous bank accounts in order to keep them below $10,000, which prompted the federal government to amend the law to prohibit individuals from so-called “structuring” their deposits. Anyone who deposits even moderately-sizable sums of cash, in other words, becomes a potential target under this unreasonably vague and all-inclusive law.
Read More @ NaturalNews.com
If you run a family farm or other small business in which you regularly
make large cash deposits at the bank, you could be in violation of a
little-known federal law called the Bank Secrecy Act. Making regular cash deposits of any amount, in fact, could land you in the crosshairs of government tyrants who, according to CBN News,
have already seized tens of thousands of dollars from family farmers
whose only “crime” was depositing their hard-earned cash in their bank
accounts.When it was first passed by the U.S. Congress back in 1970, the Bank Secrecy Act was intended to combat money laundering and other criminal activity by identifying so-called suspicious depositing activity. This law requires financial institutions to keep rigorous documentation of all individual cash deposits exceeding $10,000, which is considered to be suspicious, and submit this information to federal authorities. (http://www.fincen.gov/statutes_regs/bsa/)
Many criminals; however, allegedly began trying to evade this law by spreading out their individual cash deposits to numerous bank accounts in order to keep them below $10,000, which prompted the federal government to amend the law to prohibit individuals from so-called “structuring” their deposits. Anyone who deposits even moderately-sizable sums of cash, in other words, becomes a potential target under this unreasonably vague and all-inclusive law.
Read More @ NaturalNews.com
by Harvey Organ, HarveyOrgan.Blogspot.ca:
Good evening Ladies and Gentlemen:
Gold closed today down by $3.20 to $1609.70 by closing comex time. However at the same time, silver seems to be bucking gold’s trend as this metal rose by 33 cents to $28.08. We are now in the midst of the summer doldrums with our major European politicians on holiday. Thus do not expect any action until September. Today we saw poor industrial production numbers from Germany and also from the rest of Europe. Factory orders were also down badly in Germany. Many stories to cover today but first let us head over to the comex and assess trading there today.
The total gold comex OI rose by 1391 contracts from 389,679 to 391,070. I can assure you that our CME boys are not too happy seeing OI contract as well as volume. The August delivery month saw it’s OI fall by 43 contracts from 2960 to 2917. We had 18 delivery notices filed on Friday so we lost another 25 contracts or 2500 oz of gold standing. The September delivery month saw its OI rise by 114 contracts to 1390. The next official delivery month is October and here the OI rose by a scant 39 contracts to 28,475. October is a very weak delivery month as most players who are still in the paper game wish to play December. The estimated volume at the gold comex today was very weak at 88,213. The confirmed volume yesterday was also weak at 86,691.
Read More @ HarveyOrgan.Blogspot.ca
from TrendsJournal:
Good evening Ladies and Gentlemen:
Gold closed today down by $3.20 to $1609.70 by closing comex time. However at the same time, silver seems to be bucking gold’s trend as this metal rose by 33 cents to $28.08. We are now in the midst of the summer doldrums with our major European politicians on holiday. Thus do not expect any action until September. Today we saw poor industrial production numbers from Germany and also from the rest of Europe. Factory orders were also down badly in Germany. Many stories to cover today but first let us head over to the comex and assess trading there today.
The total gold comex OI rose by 1391 contracts from 389,679 to 391,070. I can assure you that our CME boys are not too happy seeing OI contract as well as volume. The August delivery month saw it’s OI fall by 43 contracts from 2960 to 2917. We had 18 delivery notices filed on Friday so we lost another 25 contracts or 2500 oz of gold standing. The September delivery month saw its OI rise by 114 contracts to 1390. The next official delivery month is October and here the OI rose by a scant 39 contracts to 28,475. October is a very weak delivery month as most players who are still in the paper game wish to play December. The estimated volume at the gold comex today was very weak at 88,213. The confirmed volume yesterday was also weak at 86,691.
Read More @ HarveyOrgan.Blogspot.ca
from TrendsJournal:
from CapitalAccount:
Welcome to Capital Account. JP Morgan said in a court filing that PFG’s subpoena of the bank may be overly burdensome. Will JP Morgan find a way to get out of it? It looks like they could be off the hook for accusations of silver manipulation. The Financial Times reported US regulators are increasingly likely to drop the four year investigation of silver manipulation, failing to find enough evidence. Bart Chilton, CFTC Commissioner, told a Motley Fool reporter that this FT report is premature and inaccurate. We find out what Chris Powell, co-founder and treasurer of the Gold Anti- Trust Action Committee, thinks.
Since 1998 the Gold Anti-Trust Action Committee, GATA, has been exposing, opposing, and litigating against collusion meant to control the price and supply of gold and other precious metals. GATA has collected and published dozens of documents showing Western treasury and central bank efforts at intervention in metals markets – interventions that occur both openly, as well as surreptitiously, preventing the proper functioning of a free market in gold. Chris Powell, co–founder and treasurer of GATA and Managing Editor of the Journal Inquirer, has come all the way to our DC studio to give us an update on where GATA is in its efforts.
Also, the Federal Government is auditing the gold stored at the New York Fed. Are those who have been calling for an audit for years satisfied, or does this miss the point? We talk to Chris Powell about what this audit accomplishes, and if it even begins to scratch the surface, no pun intended.
And talking about precious metals, are shares in Wal-Mart as good as gold? Some are suggesting the discount retailer is the new safe haven. What does that mean? Since 40% of Wal-Mart’s revenue is from food stamps, according to one of our guests, should investors go long government subsidies? Lauren and Demetri give you their take on Loose Change.
The idea of “collapse”, social and financial, comes with an incredible
array of hypothetical consequences ranging from public dissent and
martial law, to the complete disintegration of infrastructure and the
devolution of mankind into a swarm of mindless arm-chewing cannibals. In
an age of television nirvana and cinema overload, I have found that the
collective unconscious of our culture has now defined what collapse is
based only on the most narrow of extremes. If they aren’t being hunted
down by machete-wielding looters or swastika-wearing jackboots, then the
average American dupe figures that the country is not in much danger.
Hollywood fantasy has blinded us to the tangible crises at our doorstep.
The reality is that collapse is not a singular event, but a process. It is a symphony of doom, composed of a series of exponentially more powerful crescendos. If the past four years since the implosion of the derivatives bubble have proven anything, it is that catastrophe has the ability to drown a nation slowly like a river of molasses, rather than sweep it away like a flash flood. That said, almost every recorded collapse of modern societies in the past century has been preceded by a primary trigger event; a moment in which the mathematical certainty of failure becomes clear, even if the psychological certainty is muddled.
In 2012, we still await that trigger event, which I believe will be the announcement of QE3 (or any unlimited stimulus program regardless of title), and the final debasement of the dollar. At the beginning of this year, I pointed out that we were likely to see such an announcement before 2012 was out, and it would seem that the private Federal Reserve is right on track.
Read More @ WhiskeyAndGunpowder.com
Welcome to Capital Account. JP Morgan said in a court filing that PFG’s subpoena of the bank may be overly burdensome. Will JP Morgan find a way to get out of it? It looks like they could be off the hook for accusations of silver manipulation. The Financial Times reported US regulators are increasingly likely to drop the four year investigation of silver manipulation, failing to find enough evidence. Bart Chilton, CFTC Commissioner, told a Motley Fool reporter that this FT report is premature and inaccurate. We find out what Chris Powell, co-founder and treasurer of the Gold Anti- Trust Action Committee, thinks.
Since 1998 the Gold Anti-Trust Action Committee, GATA, has been exposing, opposing, and litigating against collusion meant to control the price and supply of gold and other precious metals. GATA has collected and published dozens of documents showing Western treasury and central bank efforts at intervention in metals markets – interventions that occur both openly, as well as surreptitiously, preventing the proper functioning of a free market in gold. Chris Powell, co–founder and treasurer of GATA and Managing Editor of the Journal Inquirer, has come all the way to our DC studio to give us an update on where GATA is in its efforts.
Also, the Federal Government is auditing the gold stored at the New York Fed. Are those who have been calling for an audit for years satisfied, or does this miss the point? We talk to Chris Powell about what this audit accomplishes, and if it even begins to scratch the surface, no pun intended.
And talking about precious metals, are shares in Wal-Mart as good as gold? Some are suggesting the discount retailer is the new safe haven. What does that mean? Since 40% of Wal-Mart’s revenue is from food stamps, according to one of our guests, should investors go long government subsidies? Lauren and Demetri give you their take on Loose Change.
by Patrick A. Heller, CoinWeek.com:
Over the weekend, London’s Financial Times came out with a story claiming that the Commodity Futures Trading Commission (CFTC) four-year investigation into manipulation of the silver market would soon to be dropped without and findings of prosecutable actions.
CFTC Commissioner Bart Chilton then issued a statement where he called the Financial Times´ report both premature and contrary to some of the facts. So, there is at least some doubt that this will be the eventual outcome of the CFTC investigation.
However, let’s assume that the CFTC finishes and closes its investigation without any prosecutable findings of wrong-doing, as it did in two prior silver market investigations. What would likely happen if this were to occur?
Read More @ CoinWeek.com
With global stock markets trading higher, today legendary value investor Jean-Marie Eveillard, who oversees $50 billion, told KWN, “In a way one should not confuse fluctuations in financial markets or commodity markets with the end of the world. However, I think there continues to be considerable hope on the part of many investors that the Neo-Keynesian remedies which have been in place will result in a sustainable economic recovery.”
“There does have to be the realization that the hope of an economic recovery in the Western world will end up being a delusion. Investors and authorities who believe there will be a recovery are deluding themselves. But hey, hope springs eternal.
There is the continued stimulus being provided by the Federal Reserve, and of course some of that newly printed money ends up in the equity markets….
Jean-Marie Eveillard continues @ KingWorldNews.com
Ranting Andy was recently interviewed in the TheDailyBell.com, one of
the top libertarian freedom thinking sites in the world. They’re out of
Switzerland and they’ve interviewed hundreds of the top freedom lovers
around the world, including yours truly. But Andy’s interview set new
standards for his of the economic free fall that the elites have been
trying to cover up for years. Andy believes that these elites can’t
control much of anything anymore, besides interest rates and the money
system, and that their ability to do even these tasks is rapidly
diminishing. But the final chapter has yet to be written, so we’ll just
have to see how it all works out.
We also discussed the Financial Times report on the CFTC’s intent to close the silver manipulation investigation. It only took four years for them to figure out that there wasn’t enough evidence. One must wonder what these government employees really do for a living. Anyone armed with a spreadsheet and the daily trading data can figure this one out. Bill is incredulous and has no confidence in the US Government, the Fed or the CFTC. He joins an ever growing club.
CLICK HERE TO LISTEN TO AUDIO
Senator Ron Paul, author of the legislation called Federal Reserve Transparency Act of 2012 (HR459) that will subject Ben Bernanke and the privately-owned Federal Reserve Bank to a monetary audit policy has seen much support from his peers on Capitol Hill. The House of Representatives passed 327 – 98 on a vote last week which exceeded the necessary 2/3rd majority.
Bernanke, trying to deter the US Congress from digging into the private matters of the Fed, told House lawmakers that this legislation would allow a “nightmare scenario” of political meddling in monetary policy making. How pretentious of this head of the global Elite banking cartel to say that American representatives would be fumbling idiots meandering about in the matters of private shareholders being forced to disclose their agendas regarding our money system.
Paul, who is pushing for “transparency” in America’s relationship with the Fed, said that Americans are “sick and tired of what happened in the bailout and where the wealthy got bailed out and the poor lost their jobs and they lost their homes.”
Read More @ Activist Post
Over the weekend, London’s Financial Times came out with a story claiming that the Commodity Futures Trading Commission (CFTC) four-year investigation into manipulation of the silver market would soon to be dropped without and findings of prosecutable actions.CFTC Commissioner Bart Chilton then issued a statement where he called the Financial Times´ report both premature and contrary to some of the facts. So, there is at least some doubt that this will be the eventual outcome of the CFTC investigation.
However, let’s assume that the CFTC finishes and closes its investigation without any prosecutable findings of wrong-doing, as it did in two prior silver market investigations. What would likely happen if this were to occur?
Read More @ CoinWeek.com
from KingWorldNews:
With global stock markets trading higher, today legendary value investor Jean-Marie Eveillard, who oversees $50 billion, told KWN, “In a way one should not confuse fluctuations in financial markets or commodity markets with the end of the world. However, I think there continues to be considerable hope on the part of many investors that the Neo-Keynesian remedies which have been in place will result in a sustainable economic recovery.”
“There does have to be the realization that the hope of an economic recovery in the Western world will end up being a delusion. Investors and authorities who believe there will be a recovery are deluding themselves. But hey, hope springs eternal.
There is the continued stimulus being provided by the Federal Reserve, and of course some of that newly printed money ends up in the equity markets….
Jean-Marie Eveillard continues @ KingWorldNews.com
Ranting Andy was recently interviewed in the TheDailyBell.com, one of
the top libertarian freedom thinking sites in the world. They’re out of
Switzerland and they’ve interviewed hundreds of the top freedom lovers
around the world, including yours truly. But Andy’s interview set new
standards for his of the economic free fall that the elites have been
trying to cover up for years. Andy believes that these elites can’t
control much of anything anymore, besides interest rates and the money
system, and that their ability to do even these tasks is rapidly
diminishing. But the final chapter has yet to be written, so we’ll just
have to see how it all works out.We also discussed the Financial Times report on the CFTC’s intent to close the silver manipulation investigation. It only took four years for them to figure out that there wasn’t enough evidence. One must wonder what these government employees really do for a living. Anyone armed with a spreadsheet and the daily trading data can figure this one out. Bill is incredulous and has no confidence in the US Government, the Fed or the CFTC. He joins an ever growing club.
CLICK HERE TO LISTEN TO AUDIO
from Susanne Posel, Activist Post
Senator Ron Paul, author of the legislation called Federal Reserve Transparency Act of 2012 (HR459) that will subject Ben Bernanke and the privately-owned Federal Reserve Bank to a monetary audit policy has seen much support from his peers on Capitol Hill. The House of Representatives passed 327 – 98 on a vote last week which exceeded the necessary 2/3rd majority.
Bernanke, trying to deter the US Congress from digging into the private matters of the Fed, told House lawmakers that this legislation would allow a “nightmare scenario” of political meddling in monetary policy making. How pretentious of this head of the global Elite banking cartel to say that American representatives would be fumbling idiots meandering about in the matters of private shareholders being forced to disclose their agendas regarding our money system.
Paul, who is pushing for “transparency” in America’s relationship with the Fed, said that Americans are “sick and tired of what happened in the bailout and where the wealthy got bailed out and the poor lost their jobs and they lost their homes.”
Read More @ Activist Post
from Zero Hedge:
Over the past month America’s ever vigilant law enforcers have taken
to task not one but two foreign (domestic bank lobbies are sufficiently
large to make Congress muppets perfectly eager to look the other way
as noted previously) banks: HSBC and now Standard Chartered, for money laundering. Yet, when it comes to the true elephant in the room, which is not foreign and is fully domestic, they continue to ignore events such as this one just described by the Wall Street Journal: “A Florida home that originally listed for $60 million has sold for $47 million, a record for a single-family house in Miami-Dade County. The home, in Indian Creek Village, had been on the market since early 2011, when construction was still being completed. The asking price was reduced to $52 million this year.” And the punchline: “The
identity of the buyer, a foreigner who purchased the home in the name
of a U.S.-based limited-liability company, couldn’t be learned.” In other words a foreigner who may or may not have engaged in massive criminal activity and/or dealt with Iran, Afghanistan, or any other bogeyman du jour at
some point in their past, and is using US real estate merely as a
money-laundering front perhaps? Sadly, we will never know. Why? As
explained before, it is all thanks to the National Association of
Realtors – those wonderful people who bring you the existing home sales
update every month (with a documented upward bias every single time) – which just so happens is the only organization that actively lobbied for and received an exemption from AML regulation compliance. In other words, unlike HSBC, the NAR is untouchable, even if it were to sell a triplex to Ahmedinejad on West 57th street.
Read More @ Zero Hedge.com
Over the past month America’s ever vigilant law enforcers have taken
to task not one but two foreign (domestic bank lobbies are sufficiently
large to make Congress muppets perfectly eager to look the other way
as noted previously) banks: HSBC and now Standard Chartered, for money laundering. Yet, when it comes to the true elephant in the room, which is not foreign and is fully domestic, they continue to ignore events such as this one just described by the Wall Street Journal: “A Florida home that originally listed for $60 million has sold for $47 million, a record for a single-family house in Miami-Dade County. The home, in Indian Creek Village, had been on the market since early 2011, when construction was still being completed. The asking price was reduced to $52 million this year.” And the punchline: “The
identity of the buyer, a foreigner who purchased the home in the name
of a U.S.-based limited-liability company, couldn’t be learned.” In other words a foreigner who may or may not have engaged in massive criminal activity and/or dealt with Iran, Afghanistan, or any other bogeyman du jour at
some point in their past, and is using US real estate merely as a
money-laundering front perhaps? Sadly, we will never know. Why? As
explained before, it is all thanks to the National Association of
Realtors – those wonderful people who bring you the existing home sales
update every month (with a documented upward bias every single time) – which just so happens is the only organization that actively lobbied for and received an exemption from AML regulation compliance. In other words, unlike HSBC, the NAR is untouchable, even if it were to sell a triplex to Ahmedinejad on West 57th street.Read More @ Zero Hedge.com
by Brandon Smith, Whiskey and Gunpowder:
The idea of “collapse”, social and financial, comes with an incredible
array of hypothetical consequences ranging from public dissent and
martial law, to the complete disintegration of infrastructure and the
devolution of mankind into a swarm of mindless arm-chewing cannibals. In
an age of television nirvana and cinema overload, I have found that the
collective unconscious of our culture has now defined what collapse is
based only on the most narrow of extremes. If they aren’t being hunted
down by machete-wielding looters or swastika-wearing jackboots, then the
average American dupe figures that the country is not in much danger.
Hollywood fantasy has blinded us to the tangible crises at our doorstep.The reality is that collapse is not a singular event, but a process. It is a symphony of doom, composed of a series of exponentially more powerful crescendos. If the past four years since the implosion of the derivatives bubble have proven anything, it is that catastrophe has the ability to drown a nation slowly like a river of molasses, rather than sweep it away like a flash flood. That said, almost every recorded collapse of modern societies in the past century has been preceded by a primary trigger event; a moment in which the mathematical certainty of failure becomes clear, even if the psychological certainty is muddled.
In 2012, we still await that trigger event, which I believe will be the announcement of QE3 (or any unlimited stimulus program regardless of title), and the final debasement of the dollar. At the beginning of this year, I pointed out that we were likely to see such an announcement before 2012 was out, and it would seem that the private Federal Reserve is right on track.
Read More @ WhiskeyAndGunpowder.com
by Susanne Posel, Occupy Corporatism:
The CIA-controlled Free Syrian Army (FSA) are claiming
they have captured 48 Iranian spies after the FSA received US
intelligence that Iran had planted people in Syria on reconnaissance
missions. Abdel Nasser al-Shumair, Commander of the al-Baraa Brigade for
the Free Syrian Army, said, “This operation took action after we
received intelligence information revealing that Iran has sent groups on
a reconnaissance mission in Damascus. And after two months of
investigations, we managed to capture some members of an Iranian
revolutionary guards group.”
An Iranian official pointed out that the “revolution in Syria” is a false claim because the Syrian people are in support of their government and opposed to the FSA who have infiltrated their country and are carrying out missions in favor of the US and Israeli agenda to over-throw their government.
Hossein Amir Abdollohian, Iranian Deputy Foreign Minister for Arab and African affairs said that “the people of Syria support their government’s stance about being a part of and having an influential role in the axis of resistance (against Israel).”
Iran is denying that the 48 hostages claimed by the FSA are from Iran and are asserting that these men are actually members of the Revolutionary Guards, an elite group carrying out false terrorist activities.
Read More @ OccupyCorporatism.com
The CIA-controlled Free Syrian Army (FSA) are claiming
they have captured 48 Iranian spies after the FSA received US
intelligence that Iran had planted people in Syria on reconnaissance
missions. Abdel Nasser al-Shumair, Commander of the al-Baraa Brigade for
the Free Syrian Army, said, “This operation took action after we
received intelligence information revealing that Iran has sent groups on
a reconnaissance mission in Damascus. And after two months of
investigations, we managed to capture some members of an Iranian
revolutionary guards group.”An Iranian official pointed out that the “revolution in Syria” is a false claim because the Syrian people are in support of their government and opposed to the FSA who have infiltrated their country and are carrying out missions in favor of the US and Israeli agenda to over-throw their government.
Hossein Amir Abdollohian, Iranian Deputy Foreign Minister for Arab and African affairs said that “the people of Syria support their government’s stance about being a part of and having an influential role in the axis of resistance (against Israel).”
Iran is denying that the 48 hostages claimed by the FSA are from Iran and are asserting that these men are actually members of the Revolutionary Guards, an elite group carrying out false terrorist activities.
Read More @ OccupyCorporatism.com
by Jeff Nielson, SilverGoldBull:
As few people in our societies even know, all of the world’s governments have (foolishly) granted exclusive monopolies for the printing of all the world’s currencies (our “money”) to a cabal of privately-owned corporations called “central banks” – given that name because it is a cabal exclusively owned/operated by bankers.
Understand that the monopoly to print money is nothing less than a license for economic rape. These private banks lend us all the paper that they print out of thin air (at zero cost to themselves). The result is that after roughly 100 years of this economic rape we have (collectively) paid these banks $trillions in “interest” for nothing, and currently owe them $10’s of trillions for nothing. History’s single greatest act of legal theft.
Indeed, these bankers have stolen such unimaginably huge sums of wealth from our societies that the Thieves now voluntarily return most of the additional amounts they steal each year. There are two reasons for this act of pseudo-remorse. To begin with, with the Little People drowning in debt individually, and with our nations drowning in debts collectively; the Thieves were/are worried that their Victims might actually notice them sitting on top of their mountains of (stolen) money.
Read More @ SilverGoldBull
As few people in our societies even know, all of the world’s governments have (foolishly) granted exclusive monopolies for the printing of all the world’s currencies (our “money”) to a cabal of privately-owned corporations called “central banks” – given that name because it is a cabal exclusively owned/operated by bankers.
Understand that the monopoly to print money is nothing less than a license for economic rape. These private banks lend us all the paper that they print out of thin air (at zero cost to themselves). The result is that after roughly 100 years of this economic rape we have (collectively) paid these banks $trillions in “interest” for nothing, and currently owe them $10’s of trillions for nothing. History’s single greatest act of legal theft.
Indeed, these bankers have stolen such unimaginably huge sums of wealth from our societies that the Thieves now voluntarily return most of the additional amounts they steal each year. There are two reasons for this act of pseudo-remorse. To begin with, with the Little People drowning in debt individually, and with our nations drowning in debts collectively; the Thieves were/are worried that their Victims might actually notice them sitting on top of their mountains of (stolen) money.
Read More @ SilverGoldBull
by Mike Shedlock, Global Economic Analysis:
Fed chairman Ben Bernanke estimated it takes about 125,000 jobs per
month to keep up with birthrate and immigration. I think because of
boomer retirements, the number is much lower, say 75,000 jobs a month.
However, there has been almost no increase in the labor pool for the past four years as noted in Reader Questions: Who is “Not in Labor Force”? Who is Counted as Unemployed?
Notice how the labor force did not skip a beat in prior recessions. The
housing bust and boomer demographics changed the trend in a dramatic
way.
Read More @ GlobalEconomicAnalysis.blogspot.com
Fed chairman Ben Bernanke estimated it takes about 125,000 jobs per
month to keep up with birthrate and immigration. I think because of
boomer retirements, the number is much lower, say 75,000 jobs a month. However, there has been almost no increase in the labor pool for the past four years as noted in Reader Questions: Who is “Not in Labor Force”? Who is Counted as Unemployed?
Notice how the labor force did not skip a beat in prior recessions. The
housing bust and boomer demographics changed the trend in a dramatic
way.
Read More @ GlobalEconomicAnalysis.blogspot.com
by Kurt Nimmo, Infowars:
Economic warfare against Iran is beginning to have an effect.
On Monday, Iran’s rial dropped around 5 percent against the dollar as
Iran’s central bank announced further currency devaluation that will
begin in ten days. In January, the country announced an 8 percent
devaluation of the rial to 12,260 against the dollar. The rial has
weathered a dramatic devaluation since the beginning of the year.
The move is another sign that sanctions imposed on Iran allegedly in response to its nuclear program are beginning to take a toll. Iran is cut off from the international banking system and the rial has lost around half its value against the dollar on the so-called free market.
The IMF admits the sanctions are designed to break the country and force it to run up an external deficit. The bankster loan sharking operation predicts Iran’s crude oil exports will dwindle to 2.0 million barrels per day this year from 2.5 million last year. Pressure applied by the sanctions will result in a current account surplus drop from 10.7 percent of gross domestic product to 6.6 percent.
Currency devaluation will undoubtedly feed inflation. Prices on consumer goods have risen at annual rates above 20 percent.
Read More @ Infowars.com
Economic warfare against Iran is beginning to have an effect.
On Monday, Iran’s rial dropped around 5 percent against the dollar as
Iran’s central bank announced further currency devaluation that will
begin in ten days. In January, the country announced an 8 percent
devaluation of the rial to 12,260 against the dollar. The rial has
weathered a dramatic devaluation since the beginning of the year.The move is another sign that sanctions imposed on Iran allegedly in response to its nuclear program are beginning to take a toll. Iran is cut off from the international banking system and the rial has lost around half its value against the dollar on the so-called free market.
The IMF admits the sanctions are designed to break the country and force it to run up an external deficit. The bankster loan sharking operation predicts Iran’s crude oil exports will dwindle to 2.0 million barrels per day this year from 2.5 million last year. Pressure applied by the sanctions will result in a current account surplus drop from 10.7 percent of gross domestic product to 6.6 percent.
Currency devaluation will undoubtedly feed inflation. Prices on consumer goods have risen at annual rates above 20 percent.
Read More @ Infowars.com
by Michael Krieger, Liberty Blitzkreig
Peter Thiel, co-founder of Paypal and early investor in Facebook,
markets himself as a libertarian and Ron Paul supporter; however, do his
actions back up such claims? I I read a very disturbing article last
evening about Palantir, a company less people in America and the world
would have heard about, but which was founded by Thiel in 2004. Of
note, the CIA’s investment arm, In-Q-Tel, was an early investor in the
company.
So what is Palantir up to these days? We get a little sense from a Business Insider article from a few days ago. Here are some quotes:
Peter Thiel, co-founder of Paypal and early investor in Facebook,
markets himself as a libertarian and Ron Paul supporter; however, do his
actions back up such claims? I I read a very disturbing article last
evening about Palantir, a company less people in America and the world
would have heard about, but which was founded by Thiel in 2004. Of
note, the CIA’s investment arm, In-Q-Tel, was an early investor in the
company.So what is Palantir up to these days? We get a little sense from a Business Insider article from a few days ago. Here are some quotes:
Palantir is a company founded by Peter Thiel — of Paypal and Facebookrenown — that has software which absolutely changes the game with intelligence.Read More @ LibertyBlitzkreig.com
It’s one of the best programs at coordinating the vast databases accumulated by the U.S. intelligence apparatus. It’s already in use in federal domestic security.
Palantir is one of the first Silicon Valley companies to view the government as a customer rather than an annoyance and — after stepping into a game dominated by top contractors like Lockheed Martin, IBM, and Raytheon — it’s proven controversial in both what it does and if it should be used.
from, Bullion Street:
China’s leading gold exchange, the Shanghai Gold Exchange is proposing
to move gold bullion to another platform to help invetsors and banks,
said Michael Lombardi, lead contributor to Profit Confidential.
According to Lombardi, the move as a natural progression for China, the largest buyer and miner of gold bullion.
In the article “China Wants to be a Major Global Trader of Gold Bullion,” Lombardi notes that the Shanghai Gold Exchange allows the trading of gold bullion, but its membership is limited to only a few investors.
“The Chinese economy tends to be a more closed place where access is limited for institutions around the world,” says Lombardi. “This opening up to banks and investment houses around the world is significant for the Chinese economy.”
Read More @ BullionStreet.com
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China’s leading gold exchange, the Shanghai Gold Exchange is proposing
to move gold bullion to another platform to help invetsors and banks,
said Michael Lombardi, lead contributor to Profit Confidential.According to Lombardi, the move as a natural progression for China, the largest buyer and miner of gold bullion.
In the article “China Wants to be a Major Global Trader of Gold Bullion,” Lombardi notes that the Shanghai Gold Exchange allows the trading of gold bullion, but its membership is limited to only a few investors.
“The Chinese economy tends to be a more closed place where access is limited for institutions around the world,” says Lombardi. “This opening up to banks and investment houses around the world is significant for the Chinese economy.”
Read More @ BullionStreet.com
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