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- Gold is NOT in a Bubble – it's Going MUCH Higher: Here's Why
- Gold And Silver On The Rise
- How QE2 Was Successful
- Paging Blythe, SLV $43 calls being bet on, we have a problem, paging Blythe
- Greenspan Article- Bix Weir Theory OMG!
- Ron Paul's new bill would end the Federal Reserve's money monopoly
- It's official: Gold and silver are now legal tender in Utah
- Silver Reaches New 38-Year High at $38.50/oz - Backwardation Ends But COT Data is Bullish
- Urge Bloomberg News to challenge Fed next on gold market rigging
- Gold Mining Stocks : Largest moves, last week
- A Flaw In The Silver Topping Theory
- How JP plays with your emotions...silver is still in backwardation
- Why is silver increasing percentagewise more than gold?
- James West: Junior Gold and Silver E&P Opportunity
- How and Why The Elite Destroyed 3 Tons of Silver Last Week
- Gold & Silver Slump from New All-Time Highs as US Jobs Data "Raises Spectre" of Rising Rates
- A Winner Takes the Gold
- Real Bullion Begins to Decouple from Paper-Bullion
- Comments on The Future
- Utah Gold Standard, Part I
- Gold and Silver and The Endgame for U.S.A Inc.
- Fibonacci Gold
- Why Arent We More Worried About Europe?
- The U.S. Dollars Impact on Price Action in the SP 500, Gold, and Oil
- King Ibn Saud’s 35,000 British sovereigns – Gold’s historic undervaluation versus oil
- Feeling Depessed? 27 Depressing Statistics About The U.S. Economy That Will Make You Feel Even Worse
| Gold is NOT in a Bubble – it's Going MUCH Higher: Here's Why Posted: 04 Apr 2011 06:23 AM PDT [Whatever you] call it - a bubble, a frenzy or a mania - there seems to be a large number of voices in the marketplace who just are not fans of gold, whether prices are moving up, down or sideways [but] the reality is that gold doesn't possess the traits necessary for a financial bubble to form. [In fact, the current worldwide economic and fiscal environment suggests that gold will go MUCH higher. Let me explain.] Words: 1899 |
| Posted: 04 Apr 2011 05:59 AM PDT |
| Posted: 04 Apr 2011 05:43 AM PDT David Beckworth submits: Paul Krugman has a post explaining the monetary policy transmission channels for QE2. His explanation is that there was a rise in wealth effect-driven consumption spending via the rising stock market and a rise in foreign spending on the U.S. economy via the depreciated dollar. While true, there is a far richer story to tell with the portfolio rebalancing channel of monetary policy. Here is how I described it before:
Complete Story » |
| Paging Blythe, SLV $43 calls being bet on, we have a problem, paging Blythe Posted: 04 Apr 2011 03:27 AM PDT Looking good today my peeps. Lookin good. |
| Greenspan Article- Bix Weir Theory OMG! Posted: 04 Apr 2011 03:10 AM PDT |
| Ron Paul's new bill would end the Federal Reserve's money monopoly Posted: 04 Apr 2011 01:29 AM PDT From Mish's Global Economic Trend Analysis: ... In March, Paul introduced H.R. 1098, the Free Competition in Currency Act of 2011, which would repeal legal tender laws in order to prohibit taxation on gold, silver, platinum, palladium, and rhodium bullion. The bill has been referred to the House Committees on Financial Services, Ways and Means, and Judiciary. A staunch critic of the Federal Reserve, Paul said instead of arguing his case for the Fed to close down tomorrow, he's arguing the fact it should not hold a monopoly. "They have a monopoly on a type of money that isn't even constitutional," he said. "We would use no force, nobody has to use gold and silver coins," said Paul. Rather, he said the Fed does use force. "They are a cartel and they make us use Federal Reserve notes," he said. Gold Standard A common assumption is that Paul is calling for a return to a gold standard. He clarified, saying he is not so inflexible. "I wouldn'’t be overly rigid and say, 'you must have a gold standard, you must go back to what we had.' Our gold standard was imperfect, even though it worked better than the paper standard," he said. Lawmakers in several states... Read full article... More from Ron Paul: Ron Paul: Don't call Obama a socialist Ron Paul: What I would do if I were President Ron Paul: How gold could save the U.S. dollar |
| It's official: Gold and silver are now legal tender in Utah Posted: 04 Apr 2011 01:28 AM PDT From Mineweb: Utah Gov. Gary Herbert last week quietly signed a law which has made Utah the first U.S. state to recognize federally issued gold and silver coins as legal tender. However, the governor chose not to make any public statement about the Utah Legal Tender Act. Utah's state tax code now considers U.S. Mint gold and silver coins as currency, which means no capital gains or other state taxes will be levied when the coins are exchanged. However, the gold and silver coins are still only worth their face value despite record gold and silver prices. A person only identified as close to Herbert told CNN... Read full article... More on gold and silver: The world's best places to hide and store precious metals What all gold investors should know about the crisis in Japan Porter Stansberry: What every American needs to know about gold |
| Silver Reaches New 38-Year High at $38.50/oz - Backwardation Ends But COT Data is Bullish Posted: 04 Apr 2011 01:26 AM PDT |
| Urge Bloomberg News to challenge Fed next on gold market rigging Posted: 04 Apr 2011 01:01 AM PDT
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| Gold Mining Stocks : Largest moves, last week Posted: 04 Apr 2011 12:45 AM PDT
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| A Flaw In The Silver Topping Theory Posted: 04 Apr 2011 12:38 AM PDT There seems to be a lot of silver pundits calling for a major top in silver lately. There's basically two main reasons why they are calling for a top: 1) silver is currently stretched above its long term moving averages and 2) silver looks spiky on a chart. Anybody that has followed markets for a while and looked at charts knows that when they see things like that they should grow cautious. This is because they have most likely experienced the other side of a spike at least once, where the market snaps back hard to the downside. They have also likely experienced that hard move down with an overly aggressive position due to being too bullish at the top, which caused even more painful losses. |
| How JP plays with your emotions...silver is still in backwardation Posted: 04 Apr 2011 12:19 AM PDT Apparently Silver is in contango now, and not in backwardation. This is complete shit, and should be trusted with the same degree as if you were dropping your kids off at Blythe's house for the day. Backwardation, is essentially the investment rate - the lease rate. But lets look at things closer shall we? If I were JP, and caught in the worlds largest short conundrum know to man, I would |
| Why is silver increasing percentagewise more than gold? Posted: 03 Apr 2011 11:55 PM PDT Since October or so of last year silver has been going up percentage wise a lot more than gold? Why is that? I like gold, but so I am trying to wrap my head around the reasons for the difference. Maybe one of the following: Gold is too expensive for the average buyer? Silver has practical uses beyond jewelry and wealth protection? Not subject to confiscation? Recent hype about buying silver to put banks out of business? It was undervalued compared to gold, which has already run up from $250 to $1,440? Other reasons? |
| James West: Junior Gold and Silver E&P Opportunity Posted: 03 Apr 2011 11:30 PM PDT
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| How and Why The Elite Destroyed 3 Tons of Silver Last Week Posted: 03 Apr 2011 11:30 PM PDT Silver Shield |
| Gold & Silver Slump from New All-Time Highs as US Jobs Data "Raises Spectre" of Rising Rates Posted: 03 Apr 2011 11:27 PM PDT Bullion Vault |
| Posted: 03 Apr 2011 11:20 PM PDT |
| Real Bullion Begins to Decouple from Paper-Bullion Posted: 03 Apr 2011 10:53 PM PDT Real Bullion Begins to Decouple from Paper-Bullion Written by Jeff Nielson Sunday, 03 April 2011 11:53 In a commentary from the middle of January ("Precious Metals Default Scenarios"), I explained how large differences between the gold and silver markets would mean that a "default" in the gold market would be much different than a default event in the silver market. Specifically, with silver having major industrial demand and with the world's silver inventories having literally been "consumed", there will likely be an outright "fail to deliver" which leads to a formal default in the silver market. Conversely, the gold market is much different. To begin with, all of the world's gold has been preserved. While this by no means indicates that gold is "abundant", it does mean that in any potential-default scenario, the bankers would likely be able to scrape together enough ounces to forestall such an occurrence. Alternately, because so much of the "gold market" merely trades paper between themselves, then the mechanism of "cash settlement" (i.e. informal default) can be used to prevent a formal default from occurring. I further added: In reality, as the "cash settlements" continue to get larger and more frequent, at some point one or more large holders in this banker Ponzi-scheme are going to lose their nerve, and insist on real bullion rather than paper bribes. Such an event does not need to result in an official default. It merely needs to spook the herd. [emphasis mine] As word gets out of some prominent investor refusing any quantity of banker-paper in favor of physical bullion (i.e. real "money"), this will cause the holders of $100's of billions of dollars of "paper bullion" products to ask themselves a very pointed question: "am I holding 'bullion' or am I holding 'paper'?" [emphasis mine] More importantly will be their response to such a question. The two obvious responses are either to demand delivery or to sell their paper bullion... Flash forward to today, and we suddenly see a new reality in the gold market. Investors are selling their paper-bullion, while loading-up with real "physical" bullion in ever-increasing quantities. Three news stories released over the weekend highlight this "new reality". On the one hand, we see the most-dubious of all the paper bullion-ETF's, the SPDR Gold Trust (more commonly known by its trading symbol "GLD") experiencing the largest liquidation of units in the history of this fund. From the 1st of January until the end of March, unit-holders dumped 5.4% of this banker Ponzi-scheme. Meanwhile, in the world of real bullion, two other news items highlight the fact that the sellers of actual, physical bullion are seeing their own inventories cleaned-out as fast they can lay their hands on more metal. One headline reads "Gold Bullion Dealers Rejoice At Continued Market Climb In Improving Circumstances". Obviously these sellers of actual gold didn't see any "liquidation" taking place in their businesses. At the same time, the irrepressible U.S. Congressman Ron Paul has some pointed questions for the U.S. Mint – which is failing its statutory mandate to provide a supply of legal tender gold and silver coins equal to demand. Paul has hinted at a solution to help increase the supply of U.S. minted coins. Of equal, if not greater importance, Paul is also crusading to eliminate the ridiculous taxation on gold and silver legal tender coins – which (as I have often pointed out) amounts to a ridiculous tax-hypocrisy, where "good money" (i.e. gold and silver coins") is taxed, while the bankers' worthless paper currencies are not. Clearly the time has come for investors to ask themselves whether we are now seeing the early stages of the disintegration of the paper-gold market. We can only be encouraged that we must be close to such an event when we read all of the pathetic excuses made by Reuters for the large decline in GLD holdings. According to Reuters, holders of paper-bullion are "worried" about all sorts of things in relation to the gold market. They're worried about Ben Bernanke's 2011 April Fool's Day joke that an "exit strategy" from "quantitative easing" and near-zero interest rates is imminent. This is not to be confused with the 2010 Ben Bernanke April Fool's Day joke that quantitative easing was "over" and hikes to interest rates were imminent. They're also "worried" that U.S. employers added too many fantasy-jobs in the latest BLS jobs-fraud. In contrast, holders of real gold have long ago tuned-out all of the Bernanke B.S. Instead of listening to his meaningless words, they only pay attention to his actions: the 0% interest rates and infinite money-printing which have already rendered the U.S. dollar worthless, based on its current economic fundamentals. What these reports seem to suggest is that we have "two different worlds", the world of paper-bullion (where Ben Bernanke is not a compulsive liar, and there is a "U.S. economic recovery"), and the world of real-bullion – where economic propaganda is ignored, and we trust our own empirical observations. We see the U.S. housing sector plummeting to new lows. We see U.S. food stamp usage setting new records every month. We see state and local governments all across the U.S. trying to fend-off bankruptcy for one more year. In fact, one of those "worlds" is merely a sham. We can easily see through the Reuters propaganda that gold-holders are (supposedly) "worried" when we note that at the same time that GLD was experiencing this massive liquidation the price of gold has gone up by about 2%. Note that this price-increase in gold has occurred despite the "suicide bomber" which the bankers unleashed in the gold market, and the liquidation of assets by Japanese investors as they repatriate much of their wealth to rebuild following their catastrophic earthquake/tsunami. What we are really seeing here is obviously the holders of paper-gold cashing out of their banker-paper, and buying real metal instead. We should not be surprised to see this taking place today – especially with GLD. As I wrote in a previous commentary, "D-Day" for this banker Ponzi-scheme occurs on the 11th day, of the 11th month, of the 11th year – or November 11, 2011. On that day, the bankers running this fund have already announced that they will be jacking-up their "management fees" (how much does it cost to "administer" a stack of paper?) – and thus dilution of GLD units will rapidly increase. As I noted before, the prospectus of this fund clearly warns investors that should their custodian willfully default on its bullion obligations, all that the holders of this fund are ever entitled to as "compensation" is paper. GLD-holders will receive no further warnings. Once "decoupling" actually takes place between real gold and the bankers' various paper-shams, the paper will plunge-to-zero rapidly – with the speed of that collapse depending only upon the level of panic. Conversely, for holders of real bullion the future (unfortunately) looks much too bright. Once the short-term liquidation of assets related to the Japan-crisis is over, the extreme money-printing of that government, and rabid demand for commodities (to fuel its reconstruction) can only add further "push" to a commodities sector which was already soaring to new highs – based on just the reckless money-printing of Europe and North America. At this point, it's important to note that there are legitimate bullion-funds in the market place. The Sprott bullion-funds and "CEF" funds immediately come to mind. However, their own legitimacy may not be enough to shield unit-holders. To begin with, when the sham-funds in the precious metals sector begin to disintegrate, in the ensuing panic the legitimate funds could also see a spill-over impact onto their own valuations. In addition to this, I become personally more convinced by the day that we are heading toward "bullion confiscation" – certainly inside the U.S., and very possibly in other Western nations. There have been several obvious "clues" that confiscation is coming. First, the modest unwinding of the massive short-positions by the bullion banks in the gold and silver market has been completely reversed, and now the banksters are again rapidly increasing their fraudulent short holdings. At the same time, the CFTC has simply chosen to ignore the new "law" in the U.S. which mandates that the CFTC impose "position limits" on those fraudulent short-holdings. In addition to openly defying the law (which is nothing new in the now-lawless United States), the choice of the bankers to radically increase their leverage in these markets makes default inevitable – and sooner rather than later. A true default in these markets would lead to $trillions in losses for the bullion banks (once their extremely-leveraged bullion derivatives were also settled). These losses are a hundred times as large as what is necessary to bankrupt these fraud-factories. Obviously either these big-banks have a deliberate "death wish", or they have a Plan B. I have been unable to identify any other possible contingency-plan for these banks, nor have I read of such a plan being put forth in the writing of any other commentator. We already saw with the first "too big to fail" episodes for these financial parasites that they place their own survival above any and all other considerations in the world. Period. This leaves bullion-confiscation as the only plausible means for these bankers to avoid their own annihilation in the default scenarios which are rapidly approaching in the gold and silver markets. For the holders of paper-bullion products, even if those holdings are/were backed by real metal, those will be the first stashes of bullion to be confiscated – requiring nothing more than a click of a mouse. Indeed, the ease with which governments can seize massive amounts of bullion from the plethora of bullion "funds, and "allocated" and "unallocated" accounts hopefully means that those bullion-holders who personally hold/store their own bullion will be able to avoid confiscation (one way or the other). While considerable uncertainty exists today in the bullion markets, there is one fact which stands out as being crystal-clear: any and all holders of "paper bullion" products need to convert their paper to real metal – before it is too late. http://www.bullionbullscanada.com/in...ary&Itemid=131 |
| Posted: 03 Apr 2011 10:15 PM PDT There were a few responses to requests for comments which I will address as best I am able. The requests were triggered by reader ER with the following: When will the dollar collapse? When will hyperinflation start? Who knows? On Sunday, 03/20/2011, this site posted a report by Chris Martenson, which he issued on 03/16.2011, [...] |
| Posted: 03 Apr 2011 10:08 PM PDT A looming return to a Gold Standard is NOT a good reason to consider Buying Gold... |
| Gold and Silver and The Endgame for U.S.A Inc. Posted: 03 Apr 2011 09:00 PM PDT |
| Posted: 03 Apr 2011 08:31 PM PDT |
| Why Arent We More Worried About Europe? Posted: 03 Apr 2011 08:25 PM PDT Dollar Collapse |
| The U.S. Dollars Impact on Price Action in the SP 500, Gold, and Oil Posted: 03 Apr 2011 08:10 PM PDT GoldandOilGuy |
| King Ibn Saud’s 35,000 British sovereigns – Gold’s historic undervaluation versus oil Posted: 03 Apr 2011 06:11 PM PDT |
| Feeling Depessed? 27 Depressing Statistics About The U.S. Economy That Will Make You Feel Even Worse Posted: 03 Apr 2011 05:23 PM PDT 
It would be nice if our politicians and our business leaders suddenly started making incredibly wise decisions so that we could bring the U.S. economy in for a "soft landing", but the chance of that happening is so small that it is not even worth mentioning. It is time for all of us to face up to the truth. In this day and age it is really easy to get caught up in the trap of feeling depressed, but once we understand exactly how bad our problems are it can be empowering because then we can start focusing on solutions. The following are 27 depressing statistics about the U.S. economy that are almost too crazy to believe.... #1 The Obama administration projects that the federal budget deficit will be approximately $1,600,000,000,000 this year. Right now the Republicans and the Democrats are fighting tooth and nail over budget cuts. The Republicans are proposing to cut the budget deficit by 3.8%. The Democrats only want to cut it by 2.1%. #2 The U.S. economy actually grew more between 1930 and 1940 than it did during the decade that recently ended. #3 Over the last decade, the number of Americans without health insurance has risen from about 38 million to about 52 million. #4 Agricultural commodities are absolutely soaring. The price of corn has more than doubled over the last 12 months. Considering the fact that corn is in literally thousands of our food products, that is a very frightening statistic. #5 Between 1999 and 2009, real median household income in the United States declined by 5.0%. #6 It is being estimated that total U.S. government debt will grow by 42 percent by the year 2015. #7 According to the Pentagon, the cost of the first week of attacks on Libya was 600 million dollars. #8 The average American now spends approximately 23 percent of his or her income on food and gas. #9 According to the U.S. Energy Department, the average U.S. household will spend approximately $700 more on gasoline in 2011 than it did during 2010. #10 It is being projected that for the first time ever, the OPEC nations are going to bring in over a trillion dollars from exporting oil this year. Their biggest customer is the United States. #11 According to the Economic Policy Institute, almost 25 percent of U.S. households now have zero net worth or negative net worth. Back in 2007, that number was just 18.6 percent. #12 China produced 19.8 percent of all the goods consumed in the world last year. The United States only produced 19.4 percent. #13 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001. #14 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990. #15 U.S. home values have fallen an astounding 6.3 trillion dollars since the peak of the real estate market in 2005. #16 According to RealtyTrac, one out of every 45 U.S. households was hit with a foreclosure filing in 2010. #17 The number of homes that were actually repossessed reached the 1 million mark for the first time ever during 2010. #18 New home sales in the United States set a brand new all-time record low in the month of February. #19 Now home sales in the United States are now down 80% from the peak in July 2005. #20 The financial condition of American families continues to deteriorate rapidly. In 2010, one out of every eight American families had at least one family member that was unemployed. That number was the highest it has been since the U.S. Labor Department began keeping track of that statistic back in 1994. #21 There are now more than 6 million Americans that the government says have given up looking for work completely. #22 According to the U.S. Bureau of Labor Statistics, the average length of unemployment in the U.S. is now an all-time record 39 weeks. #23 Americans now owe more than $900 billion on student loans, which is also an all-time record high. #24 Average household debt in the United States has now reached a level of 136% of average household income. #25 According to the Federal Reserve, between 2007 and 2009 median household net worth in the United States fell by 23 percent. #26 The Federal Reserve also says that median household debt in the United States has risen to $75,600. #27 According to a recent article posted on the website of the American Institute of Economic Research, the purchasing power of a U.S. dollar declined from $1.00 in 1913 to 4.6 cents in 2009. Sadly, the Federal Reserve is working very hard to get rid of the little bit of purchasing power that the U.S. dollar has left. |
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