Gold World News Flash |
- Gold, Silver SOAR, Gold Cartel In Shambles / PM Shares On The Move … Finally
- Prepare for the Global Long Wave Extinction Event
- Paper Currencies Finally Redeemed for Gold
- International Forecaster August 2011 (#6) - Gold, Silver, Economy + More
- $5,000 Gold and $200 Silver Predicted
- Gold enters the early stages of a parabolic upswing
- Market Analysis: How to Prepare for "Economic Depression"
- The Great Collapse Has Officially Begun
- Chavez Wants His Gold Back – Has He Miscalculated the Risk?
- S&P 500 ? to ? Gold Ratio Suggests a Maximum High of $7,275 for Gold
- Richard Russell - Expect Mass Entry Into Gold By Retail Public
- Why Silver Over Gold?
- Alasdair Macleod: Merkel, Sarkozy impotent amid debt crisis
- Eric Sprott: “The Price of Silver Should Be $110 – $120, TODAY”
- Chilton to speak on silver again if CFTC doesn't do so by next month
- Weekly precious metals market review at King World News
- How to Profit From Gold's Historic Bull Run
- Mike Kosares: Venezuela pushed the golden Humpty Dumpty off the wall
- Gold is highly overbought and prices to correct soon
- Audio of Eric Sprott's interview with King World News
- Week by the Gold-Silver Numbers for August 19
- Financial Meltdown: The Case Against the Ratings Agencies
- Harvey Organ: Deconstructing the Fraud of GLD & SLV
- Not easy for bullion banks to put golden Humpty Dumpty back together again
- Congressional Research Service study of U.S. gold standard history
- Fred Goldstein: GATA's London conference should inspire survival plans
- Venezuela's gold withdrawal is 'the game changer,' Davies tells King World News
- Guest Post: Three Paths To Near-Term Human Extinction
- New York Sun: The next De Gaulle
- Nervous Investors Go For Gold as Panic Grips Stock Markets
| Gold, Silver SOAR, Gold Cartel In Shambles / PM Shares On The Move … Finally Posted: 21 Aug 2011 08:58 AM PDT This morning was breathtaking. As I am still having trouble getting off London/France time yet, I am still rising VERY early. This morning was worth every second of it as I watched gold blow through the 2% Rule with ease, RISING 3% at its highs of its rocket run. Speaking of rockets…
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| Prepare for the Global Long Wave Extinction Event Posted: 21 Aug 2011 08:38 AM PDT Life without appreciation for irony in global financial, economic and political affairs would be challenging. God undoubtedly enjoys the irony at work in human action. Politicians promising government sponsored heaven on earth for decades have delivered the world into a global financial meltdown nightmare, and the cusp of another depression. All around the world, the politicians are scrambling for their political lives, and many their political souls, as the global system enters a long wave extinction event.
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| Paper Currencies Finally Redeemed for Gold Posted: 21 Aug 2011 06:00 AM PDT The basic unwillingness of politicians to face economic and financial realities has caused the United States and European Union to face currency collapse. The politicians are content literally to paper over the problem with massive amounts of newly printed currency. This means that savvy investors, facing major real losses, are turning increasingly to gold. In essence, even though currencies are no longer on a gold standard, they are increasingly being "redeemed" for gold in the marketplace.
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| International Forecaster August 2011 (#6) - Gold, Silver, Economy + More Posted: 21 Aug 2011 05:55 AM PDT Every professional has their own method of analyzing markets, finance and economies, and some do well coming up with the direction of social and political issues as well. The other 97% miss one-half to two-thirds of the time. That is not very good and one asks why? The answer is simple they really haven't studied history as well as they should have.
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| $5,000 Gold and $200 Silver Predicted Posted: 21 Aug 2011 04:00 AM PDT Rob McEwen has become a legend in the gold mining industry by skillfully assembling and building mining companies over the past 20 years. In this exclusive Gold Report interview, he explains his rationale for $5,000/oz. gold and $200/oz. silver and how the factors leading to those price levels will affect the industry and the companies exploring for and producing the metals.
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| Gold enters the early stages of a parabolic upswing Posted: 21 Aug 2011 03:32 AM PDT Observers are dumbfounded by the strength of the gold price last week, with a new record high of $1,876 but many are very keen to jump in to predict it will not last. Even some senior gold bugs and famous chartists are too wound-up in their own analysis of the too recent past.
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| Market Analysis: How to Prepare for "Economic Depression" Posted: 21 Aug 2011 03:00 AM PDT The week of August 15 was one of the most volatile stock market performances in years. Negative news about the global economy, gloomy forecasts and mixed signals on the jobs front battered stocks and sent gold repeatedly above $1,800/ounce. The Gold Report asked an analyst, two newsletter writers and an economist the following: What should be a precious metals investor's next move?
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| The Great Collapse Has Officially Begun Posted: 20 Aug 2011 01:26 PM PDT by Phoenix Capital Research I've been warning of this for well over two years. My primary warnings were: 1) That 2008 was just a warm-up Well, the period I've been warning of is now here. What's happening right now is not just a market crash, bear market, deflation, or any other item related to just one asset class. Instead, this is a collapse of the entire US monetary and political system and the mentality of spending one's way to wealth. Click Here to Read More at ZeroHedge.com
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| Chavez Wants His Gold Back – Has He Miscalculated the Risk? Posted: 20 Aug 2011 11:08 AM PDT "I think perhaps Mr. Chavez has not measured the potential risk and consequences. Because this is an outright attack on the US on the UK and on the European Union as major financial markets, as major areas of safety to keep your gold… Now if this could start a run on keeping gold in America, in the European Union and in the UK and in Switzerland, this might have much more dire consequences than Mr. Chavez imagines." – Adrian Salbuchi
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| S&P 500 ? to ? Gold Ratio Suggests a Maximum High of $7,275 for Gold Posted: 20 Aug 2011 08:53 AM PDT S&P 500-to-Gold Ratio Has Not Yet Hit Historic Low With gold trading Thursday (August 18) at close to $1835/oz, many are asking if gold is in a bubble. While gold may be expensive relative to its price last year, how does it compare with that of the S&P 500 -and, as such, how much higher might we expect gold to go]? Words: 346 So says Plan B Economics ([url]www.planbeconomics.com)*[/url]*in an article* which Lorimer Wilson, editor of www.munKNEE.com (It's all about Money!), has further edited ([* ]), abridged (…) and*reformatted*below**for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement. The article goes on to say: The chart below compares the S&P 500 to gold going back to January 1971. In essence, this ratio represents the inflation-adjusted value of the S&P 500. Higher numbers represent a higher relative value for the S&P 500. Lower numbers indicate a higher r...
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| Richard Russell - Expect Mass Entry Into Gold By Retail Public Posted: 20 Aug 2011 08:45 AM PDT My inclination is to ride the gold bull market until it provides a classic ending.
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| Posted: 20 Aug 2011 08:00 AM PDT My intraday gold/silver ratio work has silver will begin to outperform gold again on the upside.
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| Alasdair Macleod: Merkel, Sarkozy impotent amid debt crisis Posted: 20 Aug 2011 07:28 AM PDT 3:22p ET Saturday, August 20, 2011 Dear Friend of GATA and Gold): Economist and former banker Alasdair Macleod, who spoke at GATA's Gold Rush 2011 conference in London this month, writes today at GoldMoney that the leaders of Germany and France have succeeded only in demonstrating their impotence in the face of Europe's sovereign debt collapse, but, ironically, that may strengthen the euro. Macleod's commentary is headlined "Merkel and Sarkozy Impotent in the Face of Debt Crisis" and you can find it at GoldMoney here: http://www.goldmoney.com/gold-research/merkel-and-sarkozy-impotent-in-th... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, 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 Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Lewis E. Lehrman on How to Solve the U.S. Debt Problem Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program. Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust. To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: http://www.thegoldstandardnow.org/gata
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| Eric Sprott: “The Price of Silver Should Be $110 – $120, TODAY” Posted: 20 Aug 2011 07:18 AM PDT King World News has just released an interview with Eric Sprott: Chairman, CEO & Portfolio Manager of Sprott Asset Management
You can listen to the interview HERE. (On the left side of the page, half way down, click on the small purple logo that reads, "Listen to MP3 – CLICK HERE")
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| Chilton to speak on silver again if CFTC doesn't do so by next month Posted: 20 Aug 2011 07:13 AM PDT 3:04p ET Saturday, August 20, 2011 Dear Friend of GATA and Gold: U.S. commodities trading regulator Bart Chilton has told blogger Craig Duling that he's disappointed with the slow pace of the silver market investigation of the U.S. Commodity Futures Trading Commission and will make a statement on silver if his commission doesn't do so by the third week of September. Chilton's comments, confirmed by GATA, can be found at Duling's blog here: http://craigduling.blogspot.com/2011/08/bart-chliton-response-to-my-emai... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Lewis E. Lehrman on How to Solve the U.S. Debt Problem Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program. Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust. Lehrman says: Eliminating the budget deficit of a trillion and a half dollars cannot be done overnight. The proposal by U.S. Rep. Paul Ryan was very dramatic -- one Republican called it radical -- but it was not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy. We need a tremendous program of investment, and investment comes from savings. When you pay savers, middle-income professionals, and working people 0 percent at the bank, you are not going to encourage them to save. Then we are left with a bank cycle of debt, leverage, boom, panic, and bust." To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: http://www.thegoldstandardnow.org/gata Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, 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
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| Weekly precious metals market review at King World News Posted: 20 Aug 2011 07:01 AM PDT 3p ET Saturday, August 20, 2011 Dear Friend of GATA and Gold: The weekly precious metals review at King World News finds Bill Haynes of CMI Gold & Silver reporting that gold purchases are way up amid the monetary crisis and futures market analyst Dan Norcini marveling at the undervaluation of the resource company shares. You can listen to the program at the King World News Internet site here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/8/20_K... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Lewis E. Lehrman on How to Solve the U.S. Debt Problem Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program. Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust. Lehrman says: Eliminating the budget deficit of a trillion and a half dollars cannot be done overnight. The proposal by U.S. Rep. Paul Ryan was very dramatic -- one Republican called it radical -- but it was not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy. We need a tremendous program of investment, and investment comes from savings. When you pay savers, middle-income professionals, and working people 0 percent at the bank, you are not going to encourage them to save. Then we are left with a bank cycle of debt, leverage, boom, panic, and bust." To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: http://www.thegoldstandardnow.org/gata Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, 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
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| How to Profit From Gold's Historic Bull Run Posted: 20 Aug 2011 06:35 AM PDT Gold prices are hitting new highs in a big anniversary week -- 40 years ago on Monday, Nixon shut the gold window. There is still room for profit in this trend. This was a historic week on multiple levels.
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| Mike Kosares: Venezuela pushed the golden Humpty Dumpty off the wall Posted: 20 Aug 2011 06:28 AM PDT 2:20p ET Saturday, August 20, 2011 Dear Friend of GATA and Gold: Michael Kosares, proprietor of Centennial Precious Metals in Denver and host of its Internet site, USAGold.com, today analyzes Venezuela's withdrawal from the Western bullion banking system. Kosares writes: "It is unlikely that Venezuela's gold is sitting prettily in the above-named bullion banks just waiting to be loaded on a cargo plane and sent to Caracas. It was probably loaned out long ago, and then, perhaps, redeposited at some other bullion bank and loaned out again, etc., on down the line until it was fractionalized, atomized, and otherwise depleted from its unified whole. In short, it will not be easy for the bullion banks to reassemble this golden Humpty Dumpty." Kosares' commentary is headlined "Not Easy for Bullion Banks to Put Golden Humpty Dumpty Back Together Again" and you can find it at USAGold here: http://www.usagold.com/cpmforum/2011/08/20/not-easy-for-bullion-banks-to... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy Platinum Reports 10.97 Million Ounces Inferred An independent resource report on the Wellgreen project in the Yukon Territory in Canada has just confirmed that it as one of the largest platinum group metals projects in Canada and one of the few outside South Africa, Prophecy Platinum Corp. Chairman John Lee says. The report, compliant with Canadian National Instrument 43-101, was written by geologist Todd McCracken of Wardrop Engineering Inc., a Tetra Tech company. It incorporated drill data from 701 diamond drill holes (182 surface and 519 underground) totaling more than 53,222 metres. Using a 0.4 percent nickel equivalent cutoff grade, the Wellgreen deposit now contains a total inferred resource of 289.2 million tonnes at an average grade of 0.53 g/t platinum, 0.42 g/t palladium, 0.23 g/t gold (1.18 g/t PGM and gold), 0.38 percent nickel, and 0.35 percent copper. Separately, the deposit also contains an indicated resource of 14.3 million tonnes at an average grade of 0.99 g/t platinum, 0.74 g/t palladium, 0.52 g/t gold (2.25 g/t PGM and gold), 0.69 percent nickel, and 0.69 percent copper. Prophecy Platinum Corp. trades on the Toronto Venture Exchange under the symbol NKL, on the pink sheets in the United States as PNIKD, and in Frankfurt as P94P. For the complete press release on the Wellgreen report, please visit: http://prophecyplat.com/news_2011_july14_prophecy_platinum_new_resource_... Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Golden Phoenix Q2 2011 Conference Call Posted at Company Internet Site The second quarter 2011 conference call of Golden Phoenix Minerals Inc. (GPXM) has been posted at the company Internet site for immediate playback. The call includes updates on the start of gold production at the company's Mineral Ridge gold project in Nevada, the letter of intent to acquire the Santa Rosa gold mine in Panama, and the company's due-diligence efforts to secure a senior stock exchange listing. The conference call is 18 minutes long and you download an mp3 of it here: http://www.goldenphoenix.us/audio/GPXMCC071211.mp3 Or play back the call here: http://goldenphoenix.us/conferencecalls/ Golden Phoenix is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company's business model combines project generation and royalty mining that offers the potential for exploration upside, coupled with the backing of production and future royalty streams. View company videos here:
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| Gold is highly overbought and prices to correct soon Posted: 20 Aug 2011 06:16 AM PDT Gold have been experiencing nothing short of a supernova explosion in its prices in recent months. This is due to investors jittery towards the European crisis and stock markets collapse worldwide ala 2008. As a result investors are now looking for a safe haven for their investments and precious metals provide an ideal avenue for them.
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| Audio of Eric Sprott's interview with King World News Posted: 20 Aug 2011 06:15 AM PDT 1:15p ET Saturday, August 20, 2011 Dear Friend of GATA and Gold: Full audio of last week's King World News interview with Sprott Asset Management CEO Eric Sprott covers just about every topic in the precious metals, including GATA's Gold Rush 2011 conference in London this month, at which Sprott spoke. The interview is 20 minutes long and you can listen to it here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/8/20_E... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Golden Phoenix Q2 2011 Conference Call Posted at Company Internet Site The second quarter 2011 conference call of Golden Phoenix Minerals Inc. (GPXM) has been posted at the company Internet site for immediate playback. The call includes updates on the start of gold production at the company's Mineral Ridge gold project in Nevada, the letter of intent to acquire the Santa Rosa gold mine in Panama, and the company's due-diligence efforts to secure a senior stock exchange listing. The conference call is 18 minutes long and you download an mp3 of it here: http://www.goldenphoenix.us/audio/GPXMCC071211.mp3 Or play back the call here: http://goldenphoenix.us/conferencecalls/ Golden Phoenix is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company's business model combines project generation and royalty mining that offers the potential for exploration upside, coupled with the backing of production and future royalty streams. View company videos here: Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Prophecy Platinum Reports 10.97 Million Ounces Inferred An independent resource report on the Wellgreen project in the Yukon Territory in Canada has just confirmed that it as one of the largest platinum group metals projects in Canada and one of the few outside South Africa, Prophecy Platinum Corp. Chairman John Lee says. The report, compliant with Canadian National Instrument 43-101, was written by geologist Todd McCracken of Wardrop Engineering Inc., a Tetra Tech company. It incorporated drill data from 701 diamond drill holes (182 surface and 519 underground) totaling more than 53,222 metres. Using a 0.4 percent nickel equivalent cutoff grade, the Wellgreen deposit now contains a total inferred resource of 289.2 million tonnes at an average grade of 0.53 g/t platinum, 0.42 g/t palladium, 0.23 g/t gold (1.18 g/t PGM and gold), 0.38 percent nickel, and 0.35 percent copper. Separately, the deposit also contains an indicated resource of 14.3 million tonnes at an average grade of 0.99 g/t platinum, 0.74 g/t palladium, 0.52 g/t gold (2.25 g/t PGM and gold), 0.69 percent nickel, and 0.69 percent copper. Prophecy Platinum Corp. trades on the Toronto Venture Exchange under the symbol NKL, on the pink sheets in the United States as PNIKD, and in Frankfurt as P94P. For the complete press release on the Wellgreen report, please visit: http://prophecyplat.com/news_2011_july14_prophecy_platinum_new_resource_...
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| Week by the Gold-Silver Numbers for August 19 Posted: 20 Aug 2011 06:02 AM PDT SOUTH TEXAS -- Just below is this week's closing table, followed by the CFTC disaggregated commitments of traders (DCOT) recap for the week ending August 19, 2001.
Table Comments: Bulletin: Silver outperforms gold, suggesting that silver might be answering to its monetary personality more than its industrial metal side. However, much or most of the silver improvement came in Friday's breakout above former resistance in the $41 region in an obvious late week short-covering surge. Highest ever close for gold, weekly and on the COT date. HUI struggles at long-time resistance but did not answer the Big Markets, which were clocked due to Europe 'Charlie Foxtrot' underway. Small miners unable to answer the larger miners, but surprisingly did not sell off harshly. A bullish sign. Forex market confused and very dangerously choppy. The buck index actually lower on the week, which surprises many, thinking the euro in big trouble. ICE commercials dump ALL dollar net short positioning; now slightly net long the greenback index. Hi-lo spreads for gold and silver widening, suggesting a surge of capital inflows, a bullish argument very short term, but volatility hot. Lack of new material open interest increase despite much higher prices suggests some short covering continued through Thursday (and likely escalated on Friday). In the DCOT table below a net short position shows as a negative figure in red. A net long position shows in black. In the Change column, a negative number indicates either an increase to an existing net short position or a reduction of a net long position. A black figure in the Change column indicates an increase to an existing long position or a reduction of an existing net short position. The way to think of it is that black figures in the Change column are traders getting "longer" and red figures are traders getting shorter. All of the trader's positions are calculated net of spreading contracts as of the Tuesday disaggregated COT report.
In silver we note selling and buying pressure from the usual sources, with the "usual suspects" willing to sell into the silver rally up till Tuesday in a material way, ... but the modest fireworks for silver didn't get underway until after the COT cutoff Tuesday. Silver did not defeat its $41 resistance until Friday, but once it did, it did so convincingly, on what was probably another commercial short covering event (or the beginning of one).
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| Financial Meltdown: The Case Against the Ratings Agencies Posted: 20 Aug 2011 06:01 AM PDT In today’s looming confrontation the ratings agencies are playing the political role of “enforcer” as the gatekeepers to credit, to put pressure on Iceland, Greece and even the United States to pursue creditor-oriented policies that lead inevitably to financial crises. These crises in turn force debtor governments to sell off their assets under distress conditions. In pursuing this guard-dog service to the world’s bankers, the ratings agencies are escalating a political strategy they have long been refined over a generation in the corrupt arena of local U.S. politics.
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| Harvey Organ: Deconstructing the Fraud of GLD & SLV Posted: 20 Aug 2011 05:40 AM PDT With Hugo Chavez demanding delivery of his nation's gold from the Bank of England, it's time to re-visit my interview with Harvey Organ. Harvey absolutely nailed it in this interview, essentially predicting the mad rush for physical metals which is now underway. Unallocated metal and fractional reserve bullion banking is the issue – and the GLD and SLV ETF's will be gutted. For your consideration, Harvey Organ:
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| Not easy for bullion banks to put golden Humpty Dumpty back together again Posted: 20 Aug 2011 05:26 AM PDT I can't help but think that the recent news about Venezuela has had something do with gold's rise late this past week. And it may have had something to do with the strong run-up over the past few weeks. When Venezuela first made its intentions for gold repatriation public, the press reports indentified the Bank of England as the depository for 211 tonnes of its gold. Later, it came out that 99 tonnes were on deposit at BoE and the rest sprinkled among JP Morgan Chase, Barclays, Standard Chartered, and Bank of Nova Scotia — gold bullion banks all. It was the addition of the bullion banks in press reports that sent off alarm bells in the gold market. We were no longer talking simply about gold under a depository arrangement at the BoE (a rather benign proposition), but metal that had been committed to various lending operations. The inclusion put a whole new light on the Venezuela matter in that it suggests a short position in the physical metal that would need to be filled. Financial Times called the Venezuela withdrawal "one of the largest transfers of physical gold in recent history." When the news sunk in, gold promptly rallied — trading at $1850 as this is written and trading as high as $1875 overnight Thursday/Friday. Too, and overlooked, Venezuela's repatriation effort might have been one of the chief driving factors for gold's strong rally over the past several weeks. The bullion bank scramble, in other words, may have started weeks ago long before Venezuela went public with its intentions. In plain terms, it is unlikely that Venezuela's gold is sitting prettily in the above named bullion banks just waiting to be loaded on a cargo plane and sent to Caracas. It was probably loaned out long ago, and then perhaps, redeposited at some other bullion bank and loaned out again, etc. on down the line until it was fractionalized, atomized, and otherwise depleted from its unified whole. In short, it will not be easy for the bullion banks to reassemble this golden Humpty Dumpty. In turn, failure to materialize the physical metal could prompt similar demands from other gold-depositing nation states and private funds and individuals alike. Moneyed interests globally, as reported extensively in the mainstream press, are on a hair trigger, and ready to move defensively at a moment's notice. At the whiff of trouble, the equivalent of a bank run could develop in the bullion banking sector. (It is interesting to note that a similar circumstance 40 years ago, almost to the day, forced the United States to close the gold window.) At the very least, some depositors might be prompted to move their gold into allocated accounts thus removing it from the lending pool. In other words, a great deal more incipient demand may be bubbling beneath surface of the gold market than we presently know. —— I note that Ireland's GoldCore registers similar concerns, as does Dennis Gartman (whose newsletter is followed religiously by many of the bullion banks), and Ben Davies of Hinde Capital. Davies stated in an interview at King World News today that Venezuela's withdrawal was a "game changer" that could catapult gold to the $2100/oz level. I agree with Pete Grant that Venezuela going public with this matter, instead of attending to its business quietly, raises additional questions about the kind of initial response it received. Chris Powell at GATA has done an excellent job tracking this important story. ——
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| Congressional Research Service study of U.S. gold standard history Posted: 20 Aug 2011 05:05 AM PDT 1p ET Saturday, August 20, 2011 Dear Friend of GATA and Gold: Thanks to our friend R.R. in Oregon for alerting us to a history of the gold standard in the United States that was published a couple of months ago by the Congressional Research Service. Among other things, it outlines the U.S. government's various attempts to rig the currency markets and repudiate its currency obligations over the years. Amazingly, some people who work for precious metals consulting firms or who write commentary about the gold and silver markets deny that such things ever could have happened or could happen again. But such deception is getting harder. The Congressional Research Service study is titled "Brief History of the Gold Standard in the United States" and you can find it here: http://www.gata.org/files/CRSHistoryOfUSGoldStandard.pdf CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Lewis E. Lehrman on How to Solve the U.S. Debt Problem Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program. Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust. Lehrman says: Eliminating the budget deficit of a trillion and a half dollars cannot be done overnight. The proposal by U.S. Rep. Paul Ryan was very dramatic -- one Republican called it radical -- but it was not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy. We need a tremendous program of investment, and investment comes from savings. When you pay savers, middle-income professionals, and working people 0 percent at the bank, you are not going to encourage them to save. Then we are left with a bank cycle of debt, leverage, boom, panic, and bust." To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: http://www.thegoldstandardnow.org/gata Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, 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
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| Fred Goldstein: GATA's London conference should inspire survival plans Posted: 20 Aug 2011 04:56 AM PDT 12:55p ET Saturday, August 20, 2011 Dear Friend of GATA and Gold: Dr. Fred Goldstein, senior broker for longtime GATA supporter Swiss America Trading Co. in Phoenix, has written a thorough account of GATA's Gold Rush 2011 conference in London this month. It's headlined "GATA's London Conference Should Inspire Survival Plans" and you can find it at the Swiss America Internet site here: http://www.swissamerica.com/article.php?art=08-2011/201108190420f.txt CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Lewis E. Lehrman on How to Solve the U.S. Debt Problem Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program. Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust. Lehrman says: Eliminating the budget deficit of a trillion and a half dollars cannot be done overnight. The proposal by U.S. Rep. Paul Ryan was very dramatic -- one Republican called it radical -- but it was not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy. We need a tremendous program of investment, and investment comes from savings. When you pay savers, middle-income professionals, and working people 0 percent at the bank, you are not going to encourage them to save. Then we are left with a bank cycle of debt, leverage, boom, panic, and bust." To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: http://www.thegoldstandardnow.org/gata Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, 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
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| Venezuela's gold withdrawal is 'the game changer,' Davies tells King World News Posted: 20 Aug 2011 04:48 AM PDT 12:40p ET Saturday, August 20, 2011 Dear Friend of GATA and Gold: King World News today broadcasts a fantastic 10-minute interview with Hinde Capital CEO Ben Davies, who spoke at GATA's Gold Rush 2011 conference in London this month. Davies says Venezuela's plan to withdraw its gold deposits from the Bank of England and several bullion banks is "the game changer" in the gold market, exposing the fractional-reserve gold banking system and likely hastening the stampede from "unallocated" gold to "allocated" gold. Gold's explosion in price amid Venezuela's withdrawal of gold is also, Davies says, vindication for GATA, as "this is everything they've been talking about." It might be added that not only is the Venezuelan president, Hugo Chavez, likely destroying the fractional-reserve gold banking system and blowing up the imaginary "paper gold" it has created, causing a short squeeze. With nationalization Chavez is also destroying the gold-mining industry in his own gold-rich country, thereby doubly constricting world gold supply. Chavez might not be doing much for Venezuela, but even his hero, the South American revolutionary patriot Simon Bolivar, couldn't have struck such blows for the liberation of the rest of the world. You can listen to the interview with Davies at the King World News Internet site here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/8/20_B... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy Platinum Reports 10.97 Million Ounces Inferred An independent resource report on the Wellgreen project in the Yukon Territory in Canada has just confirmed that it as one of the largest platinum group metals projects in Canada and one of the few outside South Africa, Prophecy Platinum Corp. Chairman John Lee says. The report, compliant with Canadian National Instrument 43-101, was written by geologist Todd McCracken of Wardrop Engineering Inc., a Tetra Tech company. It incorporated drill data from 701 diamond drill holes (182 surface and 519 underground) totaling more than 53,222 metres. Using a 0.4 percent nickel equivalent cutoff grade, the Wellgreen deposit now contains a total inferred resource of 289.2 million tonnes at an average grade of 0.53 g/t platinum, 0.42 g/t palladium, 0.23 g/t gold (1.18 g/t PGM and gold), 0.38 percent nickel, and 0.35 percent copper. Separately, the deposit also contains an indicated resource of 14.3 million tonnes at an average grade of 0.99 g/t platinum, 0.74 g/t palladium, 0.52 g/t gold (2.25 g/t PGM and gold), 0.69 percent nickel, and 0.69 percent copper. Prophecy Platinum Corp. trades on the Toronto Venture Exchange under the symbol NKL, on the pink sheets in the United States as PNIKD, and in Frankfurt as P94P. For the complete press release on the Wellgreen report, please visit: http://prophecyplat.com/news_2011_july14_prophecy_platinum_new_resource_... Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Golden Phoenix Q2 2011 Conference Call Posted at Company Internet Site The second quarter 2011 conference call of Golden Phoenix Minerals Inc. (GPXM) has been posted at the company Internet site for immediate playback. The call includes updates on the start of gold production at the company's Mineral Ridge gold project in Nevada, the letter of intent to acquire the Santa Rosa gold mine in Panama, and the company's due-diligence efforts to secure a senior stock exchange listing. The conference call is 18 minutes long and you download an mp3 of it here: http://www.goldenphoenix.us/audio/GPXMCC071211.mp3 Or play back the call here: http://goldenphoenix.us/conferencecalls/ Golden Phoenix is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company's business model combines project generation and royalty mining that offers the potential for exploration upside, coupled with the backing of production and future royalty streams. View company videos here:
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| Guest Post: Three Paths To Near-Term Human Extinction Posted: 20 Aug 2011 04:25 AM PDT Submitted by Guy McPherson of Nature Bats Last Three Paths To Near-Term Human Extinction About a decade ago I realized we were putting the finishing touches on our own extinction party, with the party probably over by 2030. During the intervening period I've seen nothing to sway this belief, and much evidence to reinforce it. Yet the protests, ridicule, and hate mail reach a fervent pitch when I speak or write about the potential for near-term extinction of Homo sapiens. "We're different." We're humans, and therefore animals. Like all life, we're special. Like all organisms, we're susceptible to overshoot. Like all organisms, we will experience population decline after overshoot. Let's take stock of our current predicaments, beginning with one of several ongoing processes likely to cause our extinction. Then I'll point out the We're headed for extinction via global climate change It's hotter than it used to be, but not as hot as it's going to be. The political response to this now-obvious information is to suspend the scientist bearing the bad news. Which, of course, is no surprise at all: As Australian climate scientist Gideon Polya points out, the United States must cease production of greenhouse gases within 3.1 years if we are to avoid catastrophic runaway greenhouse. I think Polya is optimistic, and I don't think Obama's on-board with the attendant collapse of the U.S. industrial economy. Apparently — too little, too late — a couple people have noticed a few facts about Obama. This "awakening" might explain why his political support is headed south at a rapid clip. But back to climate change, one of three likely extinction events. Well, three I know about: I'm certain there are others, and any number can play. With four months remaining in the year, the U.S. has already tied its yearly record for the most billion-dollar weather disasters. Russia is headed directly for loss of 30% of its permafrost by 2050. Tundra fires could accelerate planetary warming. This year, the Northeast Passage was open as of 27 July. This is a massively dire situation for the Arctic. In fact, we have passed a de facto tipping point with respect to Arctic ice. This latter outcome is stunning, but only to those who follow the horrifically conservative and increasingly irrelevant Intergovernmental Panel on Climate Change. Nature is responding with hybrid bears, suggesting the near-term loss of all polar bears. Indeed, all Earth's systems are rapidly declining. Many organisms can't keep up as they try to stay ahead of an overheating planet. As the living planet decays, we keep piling on. Examples abound. Here's one tiny example among thousands, from that pesky BP well at Deepwater Horizon. It's out of the news cycle, but it's not done destroying life in the Gulf of Mexico. But perhaps this tidbit belongs beneath the heading of … We're headed for extinction via environmental collapse Nature is bankrupt, just like Wall Street and the USA. Thanks for playing, but you lose. The banksters on Wall Street "win." But only in the short term. In the long run, we're all dead (as first stated by John Maynard Keynes). Among the consequences of taking down more than 200 species each day: at some point, the species we take into the abyss is Homo sapiens (the wise ape). The vanishing point draws nearer every day. Our response, in the industrialized world: Bring on the toys. Burn all fossil fuels. Harvest the rain forests and strip-mine the soil. Pollute the water, eat the seed bank. And, most importantly, figure out how we can make a few bucks as the world burns. We have our hand in a monkey trap, and we can't let go. We're headed for extinction via nuclear meltdown Safely shuttering a nuclear power plant requires a decade or two of careful planning. Far sooner, we'll complete the ongoing collapse of the industrial economy. This is a source of my nuclear nightmares. When the world's 442 nuclear power plants melt down catastrophically, we've entered an extinction event. Think clusterfukushima, times 400. Ionizing radiation could, and probably will, destroy every terrestrial organism and, therefore, every marine and freshwater organism. That, by the way, includes the most unique, special, intelligent animal on Earth. Ready for some good news? Meanwhile, back on Wall Street The Securities and Exchange Commission is busily covering up Wall Street crimes, just as they did during the last presidential administration. And, as it turns out, they've been performing this trick for two decades. Finally, though, the S&P is taking the U.S. to the woodshed. The S&P knows what the media and politicians know: U.S. national debt isn't really $14 trillion and change, as we've been led to believe. In fact, it exceeds $200 trillion. And, back when it was a mere $10.5 trillion, it exceeded the value of all circulating currencies as well as all the gold ever mined. It cannot be paid off, ever. The response will be default. With luck, it'll happen quickly and completely, thus sending us directly to the new dark age (with the post-industrial Stone Age soon to follow). The ongoing crash of the stock markets differs from prior events because, for one thing, the Fed is about out of ammunition. At this juncture, there are no easy solutions. In fact, there are no solutions at all. We have just about used up all our "rabbits in the hat" as far as fiscal and monetary policy are concerned. Economics pundit Graham Summers agrees: The Fed is about to find itself completely powerless as 2008 redux appears. Think of 2008 as an economic teddy bear, and 2011 as a grizzly. And I think I mentioned this one already: The hunters are out of bullets. The all-too-expected political response from the final remaining superpower: ratchet up covert wars. Maybe, while we're at it, launch another World War. The bottom line You've been warned repeatedly in this space, and the Guardian finally joins the party: The industrial economic system is about to blow. This burst of hope, our remaining chance at salvation, will undoubtedly be greeted with the usual assortment of protests, ridicule, and hate mail I've come to expect from planetary consumers who want to keep consuming the planet. The underlying predicament — reduction in available energy — is described graphically by Gail Tverberg in this essay. She then tacks on fine analysis in this subsequent essay. Jared Diamond adds a dose of complexity, as described by Erik Curren at Transition Voice. But these warning shots are only the most recent in a rich history dating back to Marcus Aurelius (and probably further). For materials only slightly older than me that focus on our energy predicament, take a peek at M. King Hubbert's 1956 paper and the text of Admiral Hyman G. Rickover's 1957 speech. And then, let go.
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| New York Sun: The next De Gaulle Posted: 20 Aug 2011 02:57 AM PDT 10:58a ET Saturday, August 20, 2011 Dear Friend of GATA and Gold: Following up on its editorial yesterday about French President Charles De Gaulle's recognition of the monetary issue, today's New York Sun looks around for the next De Gaulle and examines the tireless work of gold advocate Lewis Lehrman, a member of President Reagan's gold commission, an ally of U.S. Rep. Ron Paul in the pursuit of a sound monetary system, sponsor of The Gold Standard Now project, and likely speaker at the October 20 meeting in New York of the Committee for Monetary Research and Education. (More about that later.) The Sun's editorial is headlined "The Next De Gaulle" and you can find it here: http://www.nysun.com/editorials/the-next-de-gaulle/87457/ CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Golden Phoenix Q2 2011 Conference Call Posted at Company Internet Site The second quarter 2011 conference call of Golden Phoenix Minerals Inc. (GPXM) has been posted at the company Internet site for immediate playback. The call includes updates on the start of gold production at the company's Mineral Ridge gold project in Nevada, the letter of intent to acquire the Santa Rosa gold mine in Panama, and the company's due-diligence efforts to secure a senior stock exchange listing. The conference call is 18 minutes long and you download an mp3 of it here: http://www.goldenphoenix.us/audio/GPXMCC071211.mp3 Or play back the call here: http://goldenphoenix.us/conferencecalls/ Golden Phoenix is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company's business model combines project generation and royalty mining that offers the potential for exploration upside, coupled with the backing of production and future royalty streams. View company videos here: Join GATA here: Toronto Resource Investment Conference http://cambridgehouse.com/conference-details/toronto-resource-investment... The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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: ADVERTISEMENT Prophecy Platinum Reports 10.97 Million Ounces Inferred An independent resource report on the Wellgreen project in the Yukon Territory in Canada has just confirmed that it as one of the largest platinum group metals projects in Canada and one of the few outside South Africa, Prophecy Platinum Corp. Chairman John Lee says. The report, compliant with Canadian National Instrument 43-101, was written by geologist Todd McCracken of Wardrop Engineering Inc., a Tetra Tech company. It incorporated drill data from 701 diamond drill holes (182 surface and 519 underground) totaling more than 53,222 metres. Using a 0.4 percent nickel equivalent cutoff grade, the Wellgreen deposit now contains a total inferred resource of 289.2 million tonnes at an average grade of 0.53 g/t platinum, 0.42 g/t palladium, 0.23 g/t gold (1.18 g/t PGM and gold), 0.38 percent nickel, and 0.35 percent copper. Separately, the deposit also contains an indicated resource of 14.3 million tonnes at an average grade of 0.99 g/t platinum, 0.74 g/t palladium, 0.52 g/t gold (2.25 g/t PGM and gold), 0.69 percent nickel, and 0.69 percent copper. Prophecy Platinum Corp. trades on the Toronto Venture Exchange under the symbol NKL, on the pink sheets in the United States as PNIKD, and in Frankfurt as P94P. For the complete press release on the Wellgreen report, please visit: http://prophecyplat.com/news_2011_july14_prophecy_platinum_new_resource_...
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| Nervous Investors Go For Gold as Panic Grips Stock Markets Posted: 20 Aug 2011 02:53 AM PDT ¤ Yesterday in Gold and Silver As I mentioned in 'The Wrap' yesterday, the gold price was really starting to sail in London...and I must admit that I was expecting some fireworks during the New York trading session, but nothing much happened. The top in the gold price on Friday came shortly before lunch in London...and it was, as they say, all down hill from there. There was a smallish rally that began at precisely 8:30 a.m. shortly after Comex trading began in New York, but that rally ran into a determined seller just minutes after the equity markets opened at 9:30 a.m. Eastern time. That's not the first time I've seen the gold price get sold off at that particular time of day. Anyway, after that tiny rally was put in its place, the gold price basically traded sideways for the rest of the day. Gold finished up $28.20 spot on the day...but at its high in London trading, it punched through $1,880 spot for a brief moment. Volume was immense. The silver chart look...
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Eric has over 40 years of experience in the investment industry and manages over $10 billion. He has been stunningly accurate in his writings for over a decade, and is one of the most respected industry professionals who accurately foresaw the current crisis. Eric chronicled the dangers of excessive leverage as well as the bubbles the Fed was creating, while correctly forecasting the tragic collapse. Sprott Asset Management is one of the top firms in the world. The firm has become well known not only for its performance, but also for creating a gold and now silver trust.| You are subscribed to email updates from Save Your ASSets First To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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