Gold World News Flash |
- RE's Daily Rant-3/19/11
- Governments Have Been Covering Up Nuclear Meltdowns for Fifty Years to Protect the Nuclear Power Industry
- Long Term Japanese Yen Chart
- In The News Today
- For the first time in many years investor demand might exceed jewellery demand in 2010
- Who's really undermining the currency, economic stability, and democracy?
- Making Money on Miners, Part I
- People just want to own these things
- More QE even as the dollar is acting weak?
- We have forgotten what true money is
- Americans shopping at discount dollar stores confronting the realities of a shrinking dollar and disappearing middle class
- At Least We're Not Fargo
- Goldman Sachs calls for “next gold rally”
- ZH: FBI busts mastermind criminal for issuing silver currency, demanding repeal of Fed & IRS
- $202.50 for 1 Oz. Silver Keiser
- FBI Busts Mastermind Criminal For Issuing Silver Currency, Demanding Repeal Of Fed And IRS; Faces 15 Years In Prison
- Open Forum: Save The World Here
- The Rise of China, the End of the Dollar's Reign
- Sol Sanders -- Follow the Money No. 58 Horror vacui
- Silver Manipulation Claims Spark Discord at US Watchdog
- Reflections on the PPI and the Commodity Bubble
- Stocks Lose Their Allure After the Japan Nuclear Meltdown
- Crisis Creates Opportunity with Junior Gold Miners
- Significant Breakdown in Gold or a Short-term Bottom in Platinum?
- Power and Profit for Gold and Silver Partisans
- Hourly Action In Gold From Trader Dan
- Pento - US to Default on Debt, Dollar Headed Much Lower
| Posted: 19 Mar 2011 12:41 PM PDT The Year AFTER the Collapse Trifecta Daily Rant Archive 2/11/11, 2/12/11, 2/14/11, 2/15/11, 2/17/11, 2/18/11, 2/19/11, 2/20/11, 2/21/11, 2/23/11, 2/25/11, 2/27/11, 2/28/11, 3/2/11, 3/3/11, 3/5/11, 3/7/11, 3/8/2011, 3/10/11, 3/12/11, 3/15/11, 3/17/11, 3/18/11 Top Links Reverse Engineering Automatic Earth Zero Hedge Economic Undertow Of Two Minds Rant Lite Today's rant looks at a [...]
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| Posted: 19 Mar 2011 12:31 PM PDT
Santa Susana As a History Chanel special notes, a nuclear meltdown occurred at the world's first commercial reactor only 30 miles from downtown Los Angeles. Specifically, in 1959, there was a meltdown of one-third of the nuclear reactors at the Santa Susana field laboratory operated by Rocketdyne, releasing - according to some scientists' estimates - 240 times as much radiation as Three Mile Island. But the Atomic Energy Commission lied and said only there was only 1 partially damaged rod, and no real problems. In fact, the AEC kept the meltdown a state secret for 20 years. There were other major accidents at that reactor facility, which the AEC and Nuclear Regulatory Commission covered up as well. See this. Kyshtm Two years earlier, a Russian government reactor at Kyshtm melted down in an accident which some claim was even worse than Chernobyl. The Soviet government hid the accident, pretending that it was creating a new "nature reserve" to keep people out of the huge swath of contaminated land. Journalist Anna Gyorgy alleges that the results of a freedom of information act request show that the CIA knew about the accident at the time, but kept it secret to prevent adverse consequences for the fledgling American nuclear industry. 1980s Studies and Hearings In 1982, the House Committee on Interior and Insular Affairs received a secret report received from the Nuclear Regulatory Commission called "Calculation of Reactor Accident Consequences 2".In light of the foregoing, the following quote from the San Jose Mercury News may not seem so far-fetched: EPA officials, however, refused to answer questions or make staff members available to explain the exact location and number of monitors, or the levels of radiation, if any, being recorded at existing monitors in California. Margot Perez-Sullivan, a spokeswoman at the EPA's regional headquarters in San Francisco, said the agency's written statement would stand on its own. Critics said the public needs more information. "It's disappointing," said Bill Magavern, director of Sierra Club California. "I have a strong suspicion that EPA is being silenced by those in the federal government who don't want anything to stand in the way of a nuclear power expansion in this country, heavily subsidized by taxpayer money."
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| Posted: 19 Mar 2011 11:35 AM PDT Dear CIGAs, The following chart is a very long term weekly chart of the Japanese Yen/US Dollar cross chart. Please note that I am using the cross as it is traded at the CME's IMM exchange and not as it is typically quoted on the Forex boards where it is quoted inversely as USD/JY. I personally prefer looking at the cross in this manner because for me it is more intuitive in the sense that if I want to know whether or not the Yen is strengthening I can look at this chart and see if it is headed higher. When you see the level at which the Yen has been driven, you begin to understand why the BOJ is so concerned about its level and why the G7 agreed to undertake a coordinated intervention to knock it lower. Note also the level at which the Yen was trading in mid 2008 when the carry trade began to unwind in earnest. Since that time the Yen has appreciated against the Dollar by nearly 40%! Click chart to enlarge in PDF format with commentary from Trader Dan Norcini For further market analysis and commentary, please see Trader Dan's website at www.traderdan.net
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| Posted: 19 Mar 2011 11:24 AM PDT Dear CIGAs, With gold going to exceed $1650 by orders of magnitude, please consider the condition of all things gold when 5% of investors take interest.
Jim Sinclair's Commentary A police action like the Korean War? U.S. Tomahawk Cruise Missiles Hit Targets in Libya Pentagon: Over 110 Missiles Fired at 20 Targets Inside Libya U.S. military officials have confirmed the first American tomahawk cruise missiles have been fired at targets inside Libya from ships in the Mediterranean Sea. The move is the first direct U.S. involvement in the international operation mobilizing to stop Libyan leader Moammar Gadhafi's attacks on opposition strongholds and enforce a U.N.-backed no-fly zone. Pentagon officials said there were 11 U.S. ships stationed in the Mediterranean Sea, including three submarines and two destroyers capable of firing cruise missiles, and several amphibious ships and supply ships. The first strikes in what is being called "Operation Odyssey Dawn" were expected to target air defense missile sites around Tripoli, Misratah, and Surt, but no areas east of that or near Benghazi, officials said. President Obama told members of Congress Friday that he had not yet authorized the use of U.S. planes, but a senior military official said Saturday that U.S. aircraft would be involved. It's unclear if those planes include bombers and fighters among support aircraft that could provide airborne surveillance, refueling and radar-jamming capabilities. Earlier today, French warplanes destroyed several Libyan military vehicles, including tanks, in eastern Libya, as pro-Gadhafi forces battled towards the rebel stronghold of Benghazi, French Defense officials said. At one point a fighter jet resembling a Libyan MiG 27 was shot down over the city, according to news reports from inside Libya.
Jim Sinclair's Commentary Iran wins and the West loses in this set of circumstances. It is FUBAR in the making. Yemen's US-backed leader fails to stop uprising SANAA, Yemen – A crackdown that killed dozens failed to stop massive demonstrations against Yemen's U.S.-backed president, as crowds of thousands clashed Saturday with security forces smashing their protest camps and even seized control of one southern city. In the capital, the government had to bring out tank units and other military forces to protect key buildings as crowds swelled. Protesters also stood their ground in the southern city of Mualla, surging out of their destroyed encampment and encircling a police station. More than a month of daily protests calling for political freedoms and an end to corruption have presented President Ali Abdullah Saleh with the most dire challenge to his 32 years of running Yemen, a deeply impoverished land of restive tribes and numerous conflicts on the southern tip of the Arabian Peninsula. In the bloodiest single day of the uprising, Yemeni forces killed at least 46 people and injured hundreds in the capital on Friday, including with snipers firing on demonstrators from rooftops. That prompted condemnation from the U.N. and the United States, which backs his government with hundreds of millions in military aid to battle a potent al-Qaida offshoot based in Yemen's mountainous hinterlands. The intensifying crackdown followed failed attempts by Saleh early on to end the revolt, including by pledging not to run for re-election in 2013 or to hand power to his son. The opposition has also spurned his calls for dialogue on a possible unity government. All the while, allies have abandoned him to join the protesters, including two Cabinet ministers, powerful tribal leaders and members of his Congress Party.
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| For the first time in many years investor demand might exceed jewellery demand in 2010 Posted: 19 Mar 2011 09:40 AM PDT A Detailed Look at the Increasing Demand for Gold Share this:
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| Who's really undermining the currency, economic stability, and democracy? Posted: 19 Mar 2011 09:17 AM PDT 5:33p ET Saturday, March 19, 2011 Dear Friend of GATA and Gold (and Silver): Here's hoping that yesterday's conviction of Liberty Dollar founder Bernard von NotHaus in federal court in North Carolina won't discourage the advocates of free markets in gold and silver and competitive currencies. Those objectives were advanced by Liberty Dollar's seeking to put precious metal back into the hands of the people and back into circulation as currency. But the details of von NotHaus' conviction, as cited in the statement issued by the U.S. attorney for the Western District of North Carolina, Anne Tompkins, suggest that Liberty Dollar pursued those objectives in the wrong way -- a way the government was able to construe as more or less counterfeiting. That is, Liberty Dollar's coins "were marked with the dollar sign, the words 'dollar,' 'USA,' 'Liberty,' 'Trust in God' (instead of 'In God We Trust'), and other features associated with legitimate U.S. coinage." Of course the suggestion of counterfeiting was always a little silly, insofar as Liberty Dollar's coins were precious metal and general-circulation U.S. currency coins have all been base metal since 1965. How can a supposed counterfeit be worth more than a legitimate original? It's doubtful that any user of a Liberty Dollar coin was ever really confused about the difference. ... Dispatch continues below ... ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, Extending the Mineralization of the Southwest Vein on the Property Company Press Release, October 27, 2010 VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include: -- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres. -- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres. -- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre. Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface. "The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest." For the company's full press release, please visit: http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf But Liberty Dollar also was part of an organization that aimed to repeal the Federal Reserve System and thus was more easily construed as subversion. Certainly the Liberty Dollar operation was politically subversive, and the government seems to have gone nearly berserk about it precisely because of its politics. "Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism," U.S. Attorney Tompkins said. "While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country. ... We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government." Undermining the legitimate currency of this country? Representing a clear and present danger to the country's economic stability? Does the U.S. attorney mean undermining the currency that has lost something like 98 percent of its value since the enactment in 1913 of the Federal Reserve System about which the Liberty Dollar operation complained? Does the U.S. attorney mean a danger to the economic stability of the country that has been using that ever-devaluing currency, the country that has experienced only booms and busts and even a couple of depressions under the reign of the Federal Reserve? And by "democratic form of government," does the U.S. attorney mean the Federal Reserve System that, in secret, rigs markets and bestows virtually infinite patronage on the large banking houses that have been looting the country? If undermining that currency and the economic stability of the country that uses it is really a crime, and if damaging democracy is really a crime, why haven't a few Fed chairmen been prosecuted? As for the nececessity for the government to infiltrate organizations that might challenge the currency system, the Liberty Dollar enterprise functioned entirely in the open. It operated an Internet site and distributed press releases. Unlike the government, it wasn't in the business of keeping secrets. It seems to have been quite candid about what it was doing. Nevertheless, Liberty Dollar probably was mistaken, legally and tactically, in its minting format, its using devices that could liken its coins to government coins. If the Liberty Dollar coins didn't use those devices, if Liberty Dollar had distinguished its coins by weight of metal rather than any dollar value and had imprinted on them some legend explicitly distinguishing them from government coins, the case might have ended differently -- or well might not have been prosecuted at all. In any event the Liberty Dollar case was more a political case than a case of counterfeiting, fraud, or deceit. Indeed, the country probably has gained more from it -- gained some understanding of the currency system -- than the country has lost from the circulation of some precious metal coinage. U.S. District Court Judge Richard Voorhees should take this into account when sentencing von NotHaus. Today's story in the Asheville Citizen-Times about the conviction of von NotHaus is appended. And some sardonic commentary about his conviction can be found at Zero Hedge here: http://www.zerohedge.com/article/fbi-busts-mastermind-criminal-issuing-s... CHRIS POWELL, Secretary/Treasurer * * * Liberty Dollar Creator Convicted in Federal Court By Clarke Morrison http://www.citizen-times.com/article/20110319/NEWS01/110319006/1001/news... The leader of a group that marketed a fake currency called Liberty Dollars in the Asheville area and elsewhere has been found guilty by a federal jury of conspiracy against the government in a case of "domestic terrorism." Bernard von NotHaus was convicted Friday at the conclusion of an eight-day trial in U.S. District Court in Statesville. The jury deliberated less than two hours, according to the Department of Justice. Charges remain pending against William Kevin Innes, an Asheville man who authorities said recruited merchants in Western North Carolina willing to accept the "barter" currency, according to court records. Innes was indicted along with von NotHaus in 2009. "Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism," U.S. Attorney Anne Tompkins said. "While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country." The case was investigated by the FBI, Buncombe County Sheriff's Office, and U.S. Secret Service with help from the U.S. Mint. "We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government," Tompkins said. Von NotHaus, 67, faces up to 25 years in prison during sentencing, which hasn't been scheduled. The government also is seeking the forfeiture of about 16,000 pounds of Liberty Dollar coins and precious metals valued at nearly $7 million. According to court documents, von NotHaus founded the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code in Evansville, Ind., in 1998, and developed the Liberty Dollar. He touted the silver medallions as an inflation-proof alternative to official currency. The coins were marked with the dollar sign, the words "dollar," "USA," "Liberty," "Trust in God" (instead of "In God We Trust") and other features associated with legitimate U.S. coins. A 2007 affidavit said more than 70 businesses in the Asheville area agreed to accept the Liberty Dollar. Innes held the title of North Carolina regional currency officer and was one of three members of the group's executive committee, an indictment states. The charges against Innes include passing coins resembling genuine U.S. coins and intended for use as money, mail fraud, and possession Liberty Dollar coins with intent to defraud. Authorities said when he was arrested that he faces up to 45 years in prison. Despite warnings from the federal government, Innes told the Citizen-Times in 2006 that Liberty Dollars were legal. "One of the first things I did when I started this in Asheville was to go to the police and tell them what I was doing," he said. Federal agents raided von NotHaus' company headquarters in 2007 and seized documents and precious metals. A private mint in Coeur d'Alene, Idaho, that produced the coins was raided the same day. Congress has exclusive power to coin money in the U.S. and to regulate its value, according to the Treasury Department. Support GATA by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: http://www.gata.org/node/16 ADVERTISEMENT Prophecy Resource Spins Off Platinum/Palladium Venture: Company Press Release, January 18, 2011 VANCOUVER, British Columbia -- Prophecy Resource Corp. (TSX-V:PCY) and Pacific Coast Nickel Corp. announce that they have agreed that PCNC will acquire Prophecy's Nickel PGM projects by issuing common shares to Prophecy. PCNC will acquire the Wellgreen PGM Ni-Cu and Lynn Lake nickel projects in the Yukon Territory and Manitoba respectively by issuing up to 550 million common shares of PCNC to Prophecy. PCNC has 55.7 million shares outstanding. Following the transaction: -- Prophecy will own approximately 90 percent of PCNC. -- PCNC will consolidate its share capital on a 10 old for one new basis. -- Prophecy will change its name to Prophecy Coal Corp. and PCNC will be renamed Prophecy Platinum Corp. -- Prophecy intends to distribute half of its PCNC shares to shareholders pro-rata in accordance with their holdings. Based on the closing price of the common shares of PCNC on January 17, $0.195 per share, the gross value of the transaction is $107,250,000. For the complete announcement, please visit: http://prophecyresource.com/news_2011_jan18.php
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| Making Money on Miners, Part I Posted: 19 Mar 2011 08:31 AM PDT At Bullion Bulls Canada, we have made it one of our "missions" to provide a complete learning resource for precious metals miners. Our goal is to offer investors a "tool" which will allow even complete novices to this sector to learn to invest on their own with these companies. We consider our Mining Company database and "Education Vault" already superior to any other package of information available at other sites. The former provides extensive data on many of the most-promising miners, while the latter offers a complete "teaching" tool regarding all of the principle fundamentals for both precious metals miners, and precious metals themselves. There is, however, still plenty of room to build upon this. In this piece I will seek to simplify and "connect-the-dots" on various concepts which we have introduced to readers in previous articles. It is imperative that readers (and especially novice investors) familiarize themselves with all of our previous material on this subject, rather than seeking to use this piece as some simplistic "formula" which they can blindly rely upon in order to (supposedly) reap huge gains. With all mining companies, there is a specific "evolution" that takes place with any/every project which eventually becomes a mine (subject to only rare exceptions). This progression is as follows: early exploration-> extensive drilling-> resource estimate-> economic assessment-> major financing-> construction of mine-> commercial production There are two important observations which can made about this mining cycle. First, most but not all of these "phases" imply developments in a particular project which should increase the share price. This in turn implies that each phase of operations is executed competently by management, and (in the case of earlier phases) that the company experiences a certain degree of "luck" in that the mineral resource which they expect to find through their exploration and drilling is actually proven through subsequent drilling results and technical modeling. The second (and perhaps more important) observation to be made is that within each phase, we can attempt to "time the market" to a certain extent. This can be either through looking to buy when certain "clues" present themselves, or conversely choosing to sell all or part of our positions when we see other pieces of data emerge. Note that understanding and interpreting these clues properly requires not only having a thorough understanding of current market conditions, but also detailed knowledge on each phase of a miner's operations. Those lacking this level of understanding need to refer to our earlier work in order to familiarize themselves with this information. The other important caveat here is that this analysis implies (at least) stable, if not favorable market conditions. As is true with any investment, sudden swings in sentiment (either to a positive or negative extreme) will overwhelm the individual fundamentals of these companies, and render this analysis invalid. Assuming an adequate understanding of this sector and stable market conditions, astute investors should be able to utilize the following guidance in order to make more profitable "entrances" and "exits" in their investing. Early exploration: With this first phase of mining obviously representing the most-speculative period of the mining cycle, this makes the task of the investor in timing their investment decisions both easier and more difficult. It's "easier" in the sense that there are less types of activity to monitor, and success or failure is relatively straightforward to assess (again, assuming a detailed understanding of mining fundamentals). It is "more difficult" for investors precisely because of the absence of large quantities of data. There may be historical drilling results to look at, if a particular land-package has been previously explored. Note that most such "historic" work, is entirely unofficial in that it doesn't meet more stringent modern standards for mining data, designed to reduce the possibility of some sort of data-fraud being perpetrated against investors. The only other data which investors may have at their disposal is information from neighbouring mines, if this particular project is situated in an existing mining "camp" (i.e. district). All other data for investors to ponder is generated by the miner itself, (more or less) in "real time". |
| People just want to own these things Posted: 19 Mar 2011 08:29 AM PDT "Holy Shit, did a 1 Oz. Silver Keiser just sell for $202.50 on eBay. I hope mine gets here soon, I ordered it ages ago." http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290546657294 MK: The above auction is a NEW auction – for a 5 oz. round (not a 1 Oz. round like the $202.50 sale mentioned above) Share this:
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| More QE even as the dollar is acting weak? Posted: 19 Mar 2011 08:11 AM PDT 4:05p ET Saturday, March 19, 2011 Dear Friend of GATA and Gold (and Silver): In the weekly precious metals market review at King World News, Bill Haynes of CMI Gold and Silver speculates that the earthquake, tsunami, and nuclear plant disaster in Japan will provide a rationale for more "quantitative easing" by the Federal Reserve, and futures trader Dan Norcini remarks that the U.S. dollar has remained weak despite the international turmoil. The review is 20 minutes long and you can listen to it at King World News here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/3/19_K... Also at King World News, audio of this week's interview with resource company broker Rick Rule has been posted here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/3/19_R... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT The Gold Standard Now: It Can Work Today a dollar is worth 80 percent less than it was 40 years ago, and less than 5 percent of its value a hundred years ago. We deserve a dollar that is as good as gold, a dollar that will hold its value from year to year so we can be financially secure and our economy can generate more and better jobs. For most of America's history, our dollar was literally as good as gold. But on August 15, 1971, our politicians destroyed the link between gold and the dollar. They destroyed the foundations of our economic system. A new Internet site, TheGoldStandardNow.org, provides news and cutting-edge analysis about this most important issue and explains how the gold standard worked in the past and how it can work in the future. Visit us today: http://www.thegoldstandardnow.org/about/137-welcome-newsmax Support GATA by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: http://www.gata.org/node/16 ADVERTISEMENT Prophecy Resource Spins Off Platinum/Palladium Venture: Company Press Release, January 18, 2011 VANCOUVER, British Columbia -- Prophecy Resource Corp. (TSX-V:PCY)and Pacific Coast Nickel Corp. announce that they have agreed that PCNC will acquire Prophecy's Nickel PGM projects by issuing common shares to Prophecy. PCNC will acquire the Wellgreen PGM Ni-Cu and Lynn Lake nickel projects in the Yukon Territory and Manitoba respectively by issuing up to 550 million common shares of PCNC to Prophecy. PCNC has 55.7 million shares outstanding. Following the transaction: -- Prophecy will own approximately 90 percent of PCNC. -- PCNC will consolidate its share capital on a 10 old for one new basis. -- Prophecy will change its name to Prophecy Coal Corp. and PCNC will be renamed Prophecy Platinum Corp. -- Prophecy intends to distribute half of its PCNC shares to shareholders pro-rata in accordance with their holdings. Based on the closing price of the common shares of PCNC on January 17, $0.195 per share, the gross value of the transaction is $107,250,000. For the complete announcement, please visit: http://prophecyresource.com/news_2011_jan18.php
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| We have forgotten what true money is Posted: 19 Mar 2011 05:37 AM PDT "We have forgotten what true money is. Despite all the troubles, I am hopeful – the internet is curing our amnesia. People now remember gold." Ben Davies/Hinde Capital at CNBC USAGOLD Note: Here at USAGOLD we have been using the power of the internet to educate the public about gold since 1997. Davies is correct – "the internet is curing our [cultural] amnesia about gold." It is not a coincidence that the evolution of the web and gold as an evergreen portfolio item occurred at the same. Having been involved from the genesis, I can attest to the web providing gold advocates the opportunity to spread the word. Davies has given us an important insight. MK
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| Posted: 19 Mar 2011 05:36 AM PDT Austerity nation – 45 million Americans on food assistance programs Share this:
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| Posted: 19 Mar 2011 05:34 AM PDT In place of the Best of the Bozeman Police Reports that normally appears here on Saturday, here's an item from the local paper that offers at least a partial explanation for all those drunk and disorderly incidents that you've been reading about here:
One theory goes that people in Bozeman are just more honest than others and the fact that the student population at Montana State University accounts for almost half the city's population doesn't help either, the younger set being more prone to excess. Mainstreet also has a top ten Laziest States in America and, fortunately, Montana is not on that list. It's one thing to be a bunch of drunks, but at least we're not lazy drunks.
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| Goldman Sachs calls for “next gold rally” Posted: 19 Mar 2011 05:25 AM PDT "Recent weakness after Japan's earthquake and tsunami… a good buying opportunity." MarketWatch, 3/18/11 USAGOLD Note: Our News, Commentary and Analysis newsletter to be realeased Monday – 3/21/11. Lead article: "International Turmoil: How the physical gold market is likely to be affected" by Peter A. Grant, our resident economist and gold market analyst
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| ZH: FBI busts mastermind criminal for issuing silver currency, demanding repeal of Fed & IRS Posted: 19 Mar 2011 04:53 AM PDT FBI Busts Mastermind Criminal For Issuing Silver Currency, Demanding Repeal Of Fed And IRS; Faces 15 Years In Prison Share this:
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| $202.50 for 1 Oz. Silver Keiser Posted: 19 Mar 2011 04:45 AM PDT Share this:
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| Posted: 19 Mar 2011 04:36 AM PDT
The FBI, which apparently has no major criminals to pursue, is now busting those who are preparing for the dollar's imminent destruction. Bernard von NotHaus, head of the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code, commonly known as NORFED and also known as Liberty Services (his website can, or rather could, be seen here), which since 1998 has been issuing silver coins as a replacement for the relentlessly devaluating US currency, was convicted today by a federal jury of making, possessing, and selling his own coins. " Following an eight-day trial and less than two hours of deliberation, von NotHaus, the founder and monetary architect of a currency known as the Liberty Dollar, was found guilty by a jury in Statesville, North Carolina, of making coins resembling and similar to United States coins; of issuing, passing, selling, and possessing Liberty Dollar coins; of issuing and passing Liberty Dollar coins intended for use as current money; and of conspiracy against the United States." The devious scheme for which von NotHaus faces up to 15 years jail time: "NORFED’s purpose was to mix Liberty Dollars into the current money of the United States. NORFED intended for the Liberty Dollar to be used as current money in order to limit reliance on, and to compete with, United States currency." In other words make the US currency less credible. We are confident the Chairsatan will take this shining example of what happens to "counterfeiters" of US currency to heart, and promply proceed to release another cool trillion in green 75% cotton/25% linen products, forcing US jails to promptly fill up with millions of subversive elements who no longer wish to interact with the former reserve currency. Defendant Convicted of Minting His Own Currency STATESVILLE, NC—Bernard von NotHaus, 67, was convicted today by a federal jury of making, possessing, and selling his own coins, announced Anne M. Tompkins, U.S. Attorney for the Western District of North Carolina. Following an eight-day trial and less than two hours of deliberation, von NotHaus, the founder and monetary architect of a currency known as the Liberty Dollar, was found guilty by a jury in Statesville, North Carolina, of making coins resembling and similar to United States coins; of issuing, passing, selling, and possessing Liberty Dollar coins; of issuing and passing Liberty Dollar coins intended for use as current money; and of conspiracy against the United States. The guilty verdict concluded an investigation which began in 2005 and involved the minting of Liberty Dollar coins with a current value of approximately $7 million. Joining the U.S. Attorney Anne M. Tompkins in making today’s announcement are Edward J. Montooth, Acting Special Agent in Charge of the FBI, Charlotte Division; Russell F. Nelson, Special Agent in Charge of the United States Secret Service, Charlotte Division; and Sheriff Van Duncan of the Buncombe County Sheriff’s Office. According to the evidence introduced during the trial, von NotHaus was the founder of an organization called the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code, commonly known as NORFED and also known as Liberty Services. Von NotHaus was the president of NORFED and the executive director of Liberty Dollar Services, Inc. until on or about September 30, 2008. Von NotHaus designed the Liberty Dollar currency in 1998 and the Liberty coins were marked with the dollar sign ($); the words dollar, USA, Liberty, Trust in God (instead of In God We Trust); and other features associated with legitimate U.S. coinage. Since 1998, NORFED has been issuing, disseminating, and placing into circulation the Liberty Dollar in all its forms throughout the United States and Puerto Rico. NORFED’s purpose was to mix Liberty Dollars into the current money of the United States. NORFED intended for the Liberty Dollar to be used as current money in order to limit reliance on, and to compete with, United States currency. In coordination with the Department of Justice, on September 14, 2006, the United States Mint issued a press release and warning to American citizens that the Liberty Dollar was “not legal tender.” The U.S. Mint press release and public service announcement stated that the Department of Justice had determined that the use of Liberty Dollars as circulating money was a federal crime. Article I, section 8, clause 5 of the United States Constitution delegates to Congress the power to coin money and to regulate the value thereof. This power was delegated to Congress in order to establish and preserve a uniform standard of value and to insure a singular monetary system for all purchases and debts in the United States, public and private. Along with the power to coin money, Congress has the concurrent power to restrain the circulation of money which is not issued under its own authority in order to protect and preserve the constitutional currency for the benefit of all citizens of the nation. It is a violation of federal law for individuals, such as von NotHaus, or organizations, such as NORFED, to create private coin or currency systems to compete with the official coinage and currency of the United States. Von NotHaus, who remains free on bond, faces a sentence of up to 15 years’ imprisonment on count two of the indictment and a fine of not more than $250,000. Von NotHaus faces a prison sentence of five years and fines of $250,000 on both counts one and three. In addition, the United States is seeking the forfeiture of approximately 16,000 pounds of Liberty Dollar coins and precious metals, currently valued at nearly $7 million. The forfeiture trial, which began today before United States District Court Judge Richard Voorhees, will resume on April 4, 2011 in the federal courthouse in Statesville. Judge Voorhees has not yet set a date for the sentencing of von NotHaus. “Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.” The case was investigated by the FBI, Buncombe County Sheriff’s Department, and the U.S. Secret Service, in cooperation with and invaluable assistance of the United States Mint. The case was prosecuted by Assistant United States Attorneys Jill Westmoreland Rose and Craig D. Randall, and the forfeiture trial is being prosecuted by Assistant United States Attorneys Tom Ascik and Ben Bain Creed.
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| Open Forum: Save The World Here Posted: 19 Mar 2011 03:48 AM PDT The movieStar Wars is one of my earliest and strongest memories as a child. The sounds were loud and the effects were amazing. The story about a band of rebels fighting against the seemingly unstoppable Empire was so exciting to me. In the end, one man took a leap of faith and destroyed the Empire's most feared weapon. This story of fighting against all odds for a just cause has always been an inspiration to me. Today we have rebellious bloggers, hackers, and leakers fighting against the most powerful Empire the world has ever known. This battle is not fought with lasers and space ships, instead, with words and ideas. The Empire is an Elite global group of banking, media, political and military powers that enslave the world's population with debt, propaganda, false hope, and war. This quadrillion-dollar Empire has a fatal flaw much like the Death Star, it is an Empire built on secrecy and lies. One shot of truth can and will bring it all crashing down. More Here. 
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| The Rise of China, the End of the Dollar's Reign Posted: 19 Mar 2011 03:35 AM PDT MK: The narrator's comments on AGW are wrong, but otherwise, an interesting vid. Share this:
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| Sol Sanders -- Follow the Money No. 58 Horror vacui Posted: 19 Mar 2011 01:27 AM PDT
Here is anther great column from Sol Sanders on the state of disarray within the Obama White House. He paints a picture of Obama as Chicagop-based Louis XIV. A version of this column is scheduled to be published in The Washington Times, Monday, March 21, 2011. If you follow his analysis on the degree of cluelessness inside the WH, then look at the housing sector's meltdown, raises questions about Obama's viability in 2012. -- Chris Follow the Money No. 58: Horror vacui Sol Sanders
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| Silver Manipulation Claims Spark Discord at US Watchdog Posted: 19 Mar 2011 01:11 AM PDT ¤ Yesterday in Gold and Silver Gold was up one percent yesterday, which was nice to see...but, considering what's going on out there in the world, it's just a drop in the bucket. The gold price made a serious attempt to break above the $1,420 spot level just before lunch time in London, but got hammered flat shortly after trading began in New York less than an hour later. From there, the gold price basically traded within about a five dollar price range for the rest of the day. Gold's high of the day [$1,425.00 spot] came about ten minutes after the Comex open. Silver [along with palladium] was the star of the day yesterday. After rising about eighty cents during the morning in the Far East, the silver price traded sideways until it, too, spiked in price shortly before the lunch hour in London...and received the same treatment as gold about fifteen minutes after the Comex opened in New York. The silver price then traded around $35.10 for the rest of the Com...
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| Reflections on the PPI and the Commodity Bubble Posted: 18 Mar 2011 11:12 PM PDT Here is a pair of interesting charts showing the correlation between the Canadian and Australian dollar vs. the price of West Texas Intermediate crude.
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| Stocks Lose Their Allure After the Japan Nuclear Meltdown Posted: 18 Mar 2011 11:07 PM PDT "Chernobyl solution" may be last resort for Japan reactors (Reuters) That means the stricken complex is likely to become an open sore, leaking radioactive particles into the atmosphere, for weeks and possibly months before the Chernobyl solution could even be implemented. Authorities say radiation outside the Japanese plant is not high enough to cause harm. Still, the 20 km (12 mile) exclusion zone around the plant may end up as a permanent no-man's land, a major problem for small, populous country. A 30 km (19 mile) exclusion zone remains around Chernobyl.
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| Crisis Creates Opportunity with Junior Gold Miners Posted: 18 Mar 2011 10:57 PM PDT Good rocks and good people are the core building blocks of successful junior miners. Casey Research Senior Editor and Mining Strategist Louis James wants to see the mineralization close up and talk to geologists to verify the powerful upside potential that may be in these stocks, which are also vulnerable to staggering corrections. In this exclusive interview with The Gold Report, Louis reveals how to benefit from the combination of geopolitical and domestic uncertainty and growth potential in the ground.
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| Significant Breakdown in Gold or a Short-term Bottom in Platinum? Posted: 18 Mar 2011 10:49 PM PDT Japan is definitely the talk of interest in capital markets. The economic fallout in the recent days did not lag much behind nature’s destructive forces. The financial aftershocks gathered force as investors fled from assets deemed risky such as stocks, oil and gold (the latter is quite surprising). Amid worries that the crisis could slow down a global economy, investors were also spooked by a 16 percent drop in Japanese shares early during the week. Stock markets slumped around the world as investors sought what they believe to be safe havens, like United States dollars and Treasury Bonds. (We are constantly amazed that people deem these assets to be safe havens.) It is inevitable that most investors will feel the ripple effects of Japan’s disaster in their portfolio one way or another.
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| Power and Profit for Gold and Silver Partisans Posted: 18 Mar 2011 10:33 PM PDT “Nothing will unnerve the paper gold shorts more quickly and do more to undercut their confidence than to strip them of the real metal and force them to come up with more hard gold bullion to make good on deliveries. ‘Stand and Deliver or Go Home’ should be the rallying cry of the gold longs to the paper gold shorts." - Trader Dan Norcini
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| Hourly Action In Gold From Trader Dan Posted: 18 Mar 2011 08:40 PM PDT View the original post at jsmineset.com... March 18, 2011 05:36 PM Dear CIGAs, Click chart to enlarge in PDF format with commentary from Trader Dan Norcini For further market analysis and commentary, please see Trader Dan's website at www.traderdan.net ...
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| Pento - US to Default on Debt, Dollar Headed Much Lower Posted: 18 Mar 2011 07:17 PM PDT  With the US dollar tumbling, today King World News resident expert Michael Pento had this to say when asked how the US will fund social security and some of those other critical items such as defense with its heavy debt load, "Well, for me it means a form of default. You know when you can't pay your debt, so there has to be some kind of restructuring. It's either going to be done by a direct reneging on our obligations to our foreign creditors, it could be in the form of inflation, but without a doubt the US is headed for some form of default on its outstanding national debt."
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