saveyourassetsfirst3 |
- The U.S.’s 0% Folly
- Gold recycling gains pace as prices rise
- South Africas gold output down 3.3 pct y/y in October
- Can anyone make sense of this gold lease chart for me?
- Gold and Silver Mining Stocks Offer the Best Value of Any Sector in…
- Statement of Jon S. Corzine
- Temporary Declines Do Not Change the Bullish Outlook for Gold and Silver
- "Dr. Doom" Marc Faber reveals the No. 1 "stock" you should own now
- "Dr. Copper" is sending another serious warning
- A simple plan to avoid a holiday spending "hangover"
- Outrageous: Billionaire George Soros could be building his own network of global police forces
- MF Global Hearing
- Outlook from the Trading Desk - 12/08/11
- Buying Silver Is Like Buying Gold At $554 Today
- Invest in Precious Metals: Always Start with Bullion
- Chris Martenson and Alasdair Macleod talk about Peak Oil and the economy
- Japan's gold exports hit new record high
- Gold Bugs
- The Catfish & the Debtquake
- I Have a Very Special Stock Tip For You. The Symbol is G-O-L-D – Dr. Marc Faber
- Why The UK Trail Of The MF Global Collapse May Have "Apocalyptic" Consequences For The Eurozone, Canadian Banks, Jefferies And Everyone Else
- Paper Markets Creating Precious Metals Gyrations: Nick Barisheff
- Canada's Gold Problem, It Has None
- Ron Hera interviews Hugo Salinas Price about remonetizing silver
- Forgotten Treasure: Library Janitor Discovers Silver Coin Cache
- Eight Commitment of Traders Charts
- Banks step up gold lending for dollars
- Links 12/8/11
- Faber: “I have a stock tip for you.. G O L D.”
- LISTEN: Peter Eliades talks with Chris Waltzek
| Posted: 08 Dec 2011 04:34 AM PST The U.S. is more fundamentally insolvent than Greece, yet Greek interest rates are fifty times higher than those of the U.S. This is obviously market fraud, and on a scale never before seen in human history. I (and others) have explained the mechanism here on several occasions: the fraudulent manipulation of the credit default swap market. It's old news. However, what no one has pointed to yet is how the U.S. has totally squandered its last chance to avoid either debt default, hyperinflation, or both. I've mentioned previously what the fate of the U.S. would be if its own interest rates had been fraudulently manipulated to the same levels as that of Greece. Interest payments alone on the national debt would be more than four times total government revenues. This means the U.S. would have to completely shut down every branch and department of the U.S. government – including its entire military, and even Congress itself – and would have to totally end all government transfer payments. And even after that, taxes would have to be quadrupled merely to pay interest on its debts. This is what the Wall Street terrorists did to Greece. Conversely, the same fraudulent mechanism which has been used to push-up interest rates all across Europe has been used in reverse, to fraudulently minimize interest rates (and payments) for the world's biggest deadbeat-debtor. And what has the U.S. government done with these extra years of ultra-light interest payments – courtesy of Wall Street? It has squandered every second of that time and every dollar saved in interest payments, in more of the petty partisan squabbling which has characterized the U.S. government as the world's most dysfunctional "democracy" (for lack of a better word). Several years of talking about deficit-fighting has yielded absolutely zero progress. Of course this hasn't stopped the U.S. from lecturing European leaders about their "fiscal irresponsibility". Hypocrisy remains the U.S.'s leading export. The latest deficit-fighting gimmick – the ridiculously over-hyped "Super Committee" – not only accomplished nothing, but it pushed the two, juvenile political parties even further apart, as the twelve "sober individuals" appointed to that farcical committee simply intensified the political divide. What obviously none of the seat-stuffers in the U.S. Congress understand (along with the Obama regime itself) is that the U.S.'s 0% honeymoon cannot be maintained indefinitely – no matter how much it facilitates the serial stealing-by-dilution by the Wall Street crime syndicate. It's impossible to predict precisely how this fraudulent 0% rate will detonate, so here are a few possibilities. The most obvious way in which these "bubble" interest rates will end is via hyperinflation. As I already explained in a previous commentary, any currency which can be produced in infinite quantities and at zero cost is worthless – as a simple tautology of arithmetic. Otherwise, with 0% interest rates, one could simply borrow "infinity" dollars (and with 0% interest there would never be any payments on that money) and then simply "buy" every asset on Earth – and with "infinity" dollars, one could even afford to overpay for everything on the planet. Indeed, buying up all assets is precisely what the Wall Street crime syndicate is doing, except it's being done in slow-motion – so that the scenario I just outlined doesn't become obvious to even the clueless stooges in government and the media. As with "Tulip Mania" four hundred years ago in Holland, it is not a question of "if", only when people will realize that their worthless currency is worthless. Of course this is only one way in which hyperinflation could hit the U.S. economy. The sheer quantity of paper currency being cranked out by the Federal Reserve and the fractional-reserve fraud-factories of Wall Street could also, easily spark hyperinflation. Even with all of the propaganda lies and market manipulation, commodity prices remain permanently on the verge of spiraling out of control. Indeed, Wall Street's efforts to hold down commodity prices actually guarantees this. |
| Gold recycling gains pace as prices rise Posted: 08 Dec 2011 03:33 AM PST |
| South Africas gold output down 3.3 pct y/y in October Posted: 08 Dec 2011 03:28 AM PST |
| Can anyone make sense of this gold lease chart for me? Posted: 08 Dec 2011 02:24 AM PST Attachment 13370 I have never really understood this. Anyone want to take a stab at what this volatility reflects? How is it corrolated with recent news? In particluar, what do you make of the divergence between the short term and longer term rates? never seen that before. Thanks in advance, Groove |
| Gold and Silver Mining Stocks Offer the Best Value of Any Sector in… Posted: 08 Dec 2011 01:41 AM PST |
| Posted: 08 Dec 2011 01:18 AM PST BEFORE THE UNITED STATES HOUSE OF REPRESENTATIVES The former head of MF Global's formal statement before today's Ag committee meeting for those who are interested is at the link below. Source: U.S. House of Representatives (House.gov) |
| Temporary Declines Do Not Change the Bullish Outlook for Gold and Silver Posted: 08 Dec 2011 01:00 AM PST SunshineProfits |
| "Dr. Doom" Marc Faber reveals the No. 1 "stock" you should own now Posted: 08 Dec 2011 12:46 AM PST From Zero Hedge: It has been a while since the Marc Faber graced Zero Hedge. It is time to remedy that. Providing his traditional dose of snark, tragedy and realism, the Gloom, Boom and Doom report author spoke to Bloomberg TV, and when asked what his outlook for the euro is, dispensed the following pearl: "I have a very special stock tip for you. The symbol is g-o-l-d. That is what I prefer to hold. Both the euro and the dollar are long-term undesirable currencies, especially given zero interest rates in the U.S. Equities to some extent become like cash because they become a store of value compared to cash at a zero interest-rates. Paintings become a store of value, stamps become a store of value." Needless to say, this is the kind of response that will get him banned from CNBC for life when Bartiromo breathlessly asks him, "ok, you think the world is ending, so what five stocks would you buy." As for his latest report, "It's actually quite gloomy but if you're very gloomy what do you invest in... Read full article... More from Marc Faber: Marc Faber: This is the "end game" Awesome Marc Faber quote astounds CNBC anchors Marc Faber: The three commodity investments you must buy now |
| "Dr. Copper" is sending another serious warning Posted: 08 Dec 2011 12:45 AM PST From The Big Picture: Those of you who believe that markets provide more insights than economists, strategists, and pundits – and there is lots of just cause for holding those views – may want to take a closer look at what is coming out of copper market. For the most part, it is negative economic expectations: "Despite a raft of good news – rising employment in the U.S., stronger growth in the euro zone, and monetary easing in China – "Dr. Copper" believes the global economy is in poorer health than many think. Among hedge funds and other money managers, bets that copper prices will fall have outpaced positions that would profit from a rise for 11 consecutive weeks. That is known as... Read full article... More on copper: Copper could be the "pin" that pops the China bubble This news from China could be very bad news for copper Don't worry about the fall in gold... This is what you should be watching instead |
| A simple plan to avoid a holiday spending "hangover" Posted: 08 Dec 2011 12:40 AM PST From Forbes: ... If you want to avoid that January spending hangover, consider this: at the root of post-holiday debt is lack of planning. When we don't do prior planning, we eliminate some of our buying options. The answer is to create a "holiday spending plan." So find 30 minutes, print this article out, grab a cup of coffee, a pencil, and a pad of paper, and help yourself avoid the Post-Holiday Spending Hangover. 8-Step Plan to Avoid the Post-Holiday Spending Hangover Step One: Create... Read full article... More on saving money: A fantastic guide to a "sane and affordable" holiday Why you should start paying attention to the price of gold Students should avoid these college degrees at all costs... |
| Outrageous: Billionaire George Soros could be building his own network of global police forces Posted: 08 Dec 2011 12:38 AM PST From Economic Policy Journal: This is off the charts. It looks like billionaire George Soros is getting serious about controlling current global turmoil. It appears he is getting ready to influence, if not control, global police forces. The New York Times reports: On Wednesday, George Soros, the billionaire investor, is expected to name Christopher Stone, a well-known expert on criminal justice, the new leader of his unconventional philanthropic empire. Mr. Stone, a professor at Harvard's John F. Kennedy School of Government, will fully take the helm in July of the Open Society Foundations, a sprawling constellation of more than 30 organizations that operate in places as diverse as Baltimore, Jakarta, the Kremlin, and Congress. Just what does "expert on criminal justice" mean? Get a load of this... Read full article... More on George Soros: Reports say billionaire George Soros has dumped all of his gold George Soros is closing his hedge fund to escape new regulations Billionaire investor George Soros: The global financial system is about to collapse |
| Posted: 08 Dec 2011 12:37 AM PST Currently being brodcast now. Corzine to testify, has 21 page prepared statement. Related Article: http://www.bloomberg.com/news/2011-1...m-d-cohan.html Excerpt: "Internal Repo Allowed The banks, however, pushed the CFTC to expand the investment options that would allow firms to practice "internal repo." In this scheme, money is taken from customer accounts and invested short-term in a variety of securities, with the futures brokers reaping the not- insignificant financial rewards from their customers' money. And, lo and behold, such efforts were successful. In December 2000, the CFTC agreed to amend Regulation 1.25 "to permit investments in general obligations issued by any enterprise sponsored by the United States, bank certificates of deposit, commercial paper, corporate notes, general obligations of a sovereign nation, and interests in money market mutual funds" -- in other words, riskier investments that could make more money for Wall Street. Then, in February 2004 and May 2005, Regulation 1.25 was further amended and refined to the liking of Ferber and the banks. In the end, the door was opened for firms such as MF Global to do internal repos of customers' deposits and invest the funds in the "general obligations of a sovereign nation." This practice, of course, may well be the centerpiece of the MF Global disaster. We now know that Corzine -- who was CEO of Goldman Sachs from 1994 to 1999 -- bet $6.3 billion on the distressed long-term bonds of countries such as Italy and Spain, although it's unclear if clients' funds were used. Bart Chilton, a CFTC commissioner, told Bloomberg News on Nov. 10 the loss to customers' accounts may have resulted from a "massive hide-and-seek ploy." While the CFTC's and the Federal Bureau of Investigation's probes into the missing money continue, it isn't too soon to pass judgment on how the too-close relationship between Wall Street and Washington can lead to seemingly innocuous changes in the obscure rules governing the securities industry, which, in turn, can result in financial disaster." |
| Outlook from the Trading Desk - 12/08/11 Posted: 08 Dec 2011 12:34 AM PST One day closer and my views have not changed. Markets extremely nervous and the major players are protecting both sides. Seems that there is relatively strong Private bank purchases on dips. Albeit the wealthy are not always right, they do seem to be more right than wrong. I am sure its their superior education and not their connections that help them be ahead of the game, they are worth watching. Their betting on a good announcement followed by a satisfactory longer term plan, which if it occurs will be very positive for the metals. I see snow on the roofs here. Santa is close. Another two weeks of eggnog and euphoria if Friday goes ok and then the work begins in earnest. Whatever the short term outcome, the 1st Quarter of 2012 will be memorable. Any headline could create a significant move. |
| Buying Silver Is Like Buying Gold At $554 Today Posted: 08 Dec 2011 12:30 AM PST I think that buying silver today is like buying gold for $554 an ounce. Let me explain: As I am writing, silver is currently trading at about 65.2% (32.6/50) of its 1980 high. If gold was trading at 65.2% of its 1980 high, it would be trading at $554 (0.652*850). |
| Invest in Precious Metals: Always Start with Bullion Posted: 08 Dec 2011 12:17 AM PST How to start investing in precious metals with bullion. |
| Chris Martenson and Alasdair Macleod talk about Peak Oil and the economy Posted: 08 Dec 2011 12:15 AM PST In this video Chris Martenson, economic analyst at chrismartenson.com, and Alasdair Macleod of the GoldMoney Foundation talk about Martenson's book The Crash Course, the US dollar and gold. ... |
| Japan's gold exports hit new record high Posted: 08 Dec 2011 12:00 AM PST According to the World Gold Council (WGC), Japan's gold exports are at their highest level since 1985. Referring to data from the Japanese Ministry of Finance, the WGC informs that during the first ... |
| Posted: 07 Dec 2011 10:04 PM PST A blurb from DJ newswires talks about First Eagle Gold Fund. I know nothing about this fund and am not recommending it. For those interested in gold, you might want to explore further: –First Eagle Gold Fund seeks to help investors attain a portfolio allocation without overpaying for the precious metal –The fund invests in [...] |
| The Catfish & the Debtquake Posted: 07 Dec 2011 09:18 PM PST Don't be greedy! Or a giant catfish might make you spew out Gold Coins... |
| I Have a Very Special Stock Tip For You. The Symbol is G-O-L-D – Dr. Marc Faber Posted: 07 Dec 2011 09:16 PM PST ¤ Yesterday in Gold and SilverGold hugged the $1,730 spot mark right up until the London a.m. gold fix at 10:30 a.m. GMT...which is 5:30 a.m. Eastern time. From there, gold got sold off until the open of Comex trading at 8:20 a.m. Eastern. Gold was up twenty bucks in minutes before a not-for-profit seller showed up...and the gold price traded with a slightly positive bias for the rest of Comex trading session...before flat-lining into the close of electronic trading at 5:15 p.m. Gold closed virtually on its high at $1,743.10 spot...up $13.70 on the day. Net volume was pretty light...around 105,000 contracts.
Silver sold off about twenty cents the moment that Far East trading began on Wednesday morning. It's London high came at 9:00 a.m. local time, before declining into the Comex open. Then, like gold, the silver price blasted off...and was up over 60 cents in just a few minutes before JPMorgan et al showed up. From that point on, every rally attempt got hit before it could get far...and silver closed at $32.51 spot...down two bits on the day. Volume was 30,000 contracts...give or take.
Here's the New York Spot [bid] chart for silver yesterday, because the full-day Kitco chart doesn't show the detail that this chart does...especially the vertical price spike at the Comex open.
The dollar low on Wednesday came shortly after 2:00 a.m. Eastern time...and by 9:15 a.m. Eastern time the dollar had risen 40 basis points before rolling over and falling to its New York low at precisely 1:00 p.m. Eastern...giving back virtually all of the prior 40 point gain. The dollar finished basically unchanged on the day. If there was much co-relation between the dollar and the gold price yesterday, it certainly isn't to be found on this graph.
The stocks chopped around either side of unchanged until the gold price was firmly in the black...and by that time, the shares were in the black as well. But even though the gold price continued to rise slowly, a seller showed up around 1:30 p.m. Eastern and sold the shares down more than a percent. But the moment that seller disappeared, the stocks popped back into positive territory...and the HUI finished up a smallish 0.29%.
The silver shares closed mixed...and Nick Laird's Silver Sentiment Index showed that as well...down 0.35%.
(Click on image to enlarge) The CME's Daily Delivery Report showed that 77 gold and 24 silver contracts were posted for delivery on Friday. In silver, Jefferies was the only issuer...and every one of the silver crooks was standing there to take their tiny share. It's was a dream 'perp walk' list of the '8 or less' traders. The Issuers and Stoppers Report is worth scanning...and the link is here. The GLD ETF showed a withdrawal of 68,079 contracts yesterday...but SLV went the other way, as 972,618 troy ounces of silver were added. The U.S. Mint had a smallish sales report. They sold 1,500 ounces of gold eagles...500 one-ounce 24K gold buffaloes...and, for the second day in a row, no silver eagles. On Tuesday, the Comex-approved depositories received 302,204 ounces of silver...and shipped 150,198 ounces out the door. The link to that activity is here. Silver analyst Ted Butler posted his mid-week commentary yesterday...and here are a few free paragraphs... "SLV investors have been damaged by the excessive short selling in shares of SLV, but it would be a mistake to assume the damage is confined to SLV investors. As the largest holder of silver on the planet, the SLV has a profound influence on the price of silver. Since the excessive short selling of SLV shares influences the price of those shares, it automatically also influences the price of silver itself. From the beginning of this year to the price peak in April, the short position in SLV grew by 25 million shares to 37 million shares. Legitimate investors bought those 25 million newly shorted shares. If those newly shorted shares had instead been backed by real silver deposited into the Trust as proscribed by the SLV prospectus, the price of silver would have climbed much higher than the $49 price achieved. That's because there wasn't 25 million real ounces of silver available at that time at then-current prices...and any attempt to purchase that amount of real silver would have driven prices much higher. Thus, the short sellers of those 25 million shares/ounces of SLV did an end-run around the prospectus and interfered with actual supply and demand fundamentals. That is a flat-out a violation of the laws governing interstate commerce and commodity law." "This excessive paper short selling in SLV has every bit the same manipulative effect on the price of silver as does the excessive paper selling on the COMEX. In fact, I believe that the same price manipulators are behind both SLV and COMEX short selling. If I am correct, it would prove silver manipulation beyond any shadow of a doubt. And all it would take is the regulators objectively looking at the data. Innocent silver investors and producers alike are, and have been, victimized by both instances of manipulative short selling, SLV and COMEX alike. That's why I intend to continue to press the current sponsor of SLV, BlackRock, to eliminate the excessive short selling in shares of SLV. This is not just a concern to SLV investors, but to all whose fortunes ride on the price of silver." Here's a chart that West Virginia reader Elliot Simon sent me yesterday. The Fed calls it the "Money Multiplier"...but its more often called 'the velocity of money'. As long as it remains at these dismal levels, the chances of hyperinflation, or even serious inflation of any amount, is impossible. But it's a chart that bears careful watching over time.
(Click on image to enlarge) I have a fair number of stories for you today. As usual, it's up to you to pick and chose. The last piece is a huge read, but well worth it. As I've said before, we seem to be in some sort of holding pattern. Silver is all cleaned out to the downside...and it's pretty much the same in gold as well. Paper Markets Creating Precious Metals Gyrations: Nick Barisheff. Ron Hera interviews Hugo Salinas Price about remonetizing silver. Banks step up gold lending for dollars. ¤ Critical ReadsSubscribeCiti cuts 4,500 jobs, will take $400 million chargeCEO Vikram Pandit, speaking at the Goldman Sachs Financial Services Conference, said the bank would record a $400 million charge in the quarter for severance and other expenses related to the layoffs. The cuts are equal to about 2 percent of Citi's workforce of 267,000 employees at the end of third quarter 2011. Pandit said the cuts would be completed over "the next few quarters" and would come from a range of businesses. Citi joins other banks worldwide that have cut more than 120,000 jobs as regulations have imposed tighter industry rules and the economy remains weak. This Reuters story was posted early Tuesday evening...and it's an article that I borrowed from yesterday's King Report. The link is here.  Jim Rogers on CNBC: 06 December 2011Jim Rogers is bearish...and is short just about everything except commodities...which he holds big long positions in. He speaks the obvious when he says that you can't borrow your way out of debt. Gold and silver are his favourites...but silver comes out number one! This 6:26 CNBC video is courtesy of Nitin Agrawal...and it's posted over at youtube.com. It's well worth watching...and the link is here.  If one EU bail-out fund flops, create twoIf you think that running together Europe's old rescue fund (EFSF) with the new one (ESM) to double firepower to €880bn is a reassuring move – as some analysts apparently do – you should have your head examined. The idea of combining the two is an admission that attempts to leverage the fund to €1 trillion plus have essentially failed. The clever ruse by German finance minister Wolfgang Schauble to circumvent the €211bn limit on guarantees imposed by the Bundestag has run into investor scorn. That Bundestag ceiling remains – and those of us who watched the debate know how emotional it was – so how on earth can Germany's share be bumped up in this fashion to over €400bn? No wonder a "senior German official" has rubbished the plan today in irate language. Ambrose Evans-Pritchard's contempt is more than obvious in this rant in yesterday's edition of The Telegraph. It's Roy Stephens first offering of the day...and the link is here.  Forget the 'big bazooka' bailout fund idea, it has no ammoOn paper the idea looks great: a fully-loaded €940bn fund created by a powerful combination of the impressively named European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM)...and there could be additional backing from International Monetary Fund (IMF) to boot. Wunderbar! Magnifique! This is the "comprehensive" plan we've been waiting for. Except that's the point: it's still only a plan. And, even by eurozone standards, a very sketchy one. The idea was circulated yesterday in a paper by the Herman Van Rompuy, president of Europe. It has key flaws. First off, it's Van Rompuy's proposal, not Germany or France's. Van Rompuy is a bit like the bail-out funds - impressively titled and important, but lacking real power. LOL!!! A better description of Van Rompuy I have not seen anywhere...and I'm sure that Nigel Farage would agree! This is another story that showed up in The Telegraph yesterday...and I thank Roy Stephens once again for sending it along...and the link is here.  Fateful Day for Europe: Four Ideas to Save the Common CurrencyEuropean Union leaders will be gathering in Brussels today and tomorrow for one of the most anticipated EU summits ever. Some say that the very survival of the common currency is at stake. But even as Germany's Angela Merkel will be focused on stricter budget rules, several other proposals are also on the table. Spiegel Online provides an overview. [But] as the summit approaches, however, that scenario is looking increasingly optimistic. Some might say naïve. Indeed, with Standard & Poor's raising the specter of a downgrade for 15 of 17 euro-zone countries along with the euro backstop fund, the European Financial Stability Facility (EFSF), the pressure is greater than ever to push through a package of measures that will deeply impress investors. This very long read was posted over at the German website spiegel.de yesterday...and is Roy Stephens third offering in a row. The link is here.  Bank of France debts jump tenfold on capital flightThe Bank of France faces surging debts to Germany's Bundesbank and fellow central banks in the EMU system as foreign investors pull large sums out of French accounts. French lenders lost €100bn (£86bn) in short-term deposits in September alone, mostly due t |
| Posted: 07 Dec 2011 09:16 PM PST  I received this zerohedge.com piece just before midnight last night courtesy of Nick Laird. It's very long, very involved...and, if true, the word "Apocalyptic" would certainly apply. This is a monster read...and don't be surprised if you can't quite grasp it all, as I couldn't either. But I don't think it's the parts that you don't understand that will scare the hell out of you. I would think that we'll find out in pretty short order if any or all of this is true. As I said, it's a zerohedge.com posting...and the link is here. |
| Paper Markets Creating Precious Metals Gyrations: Nick Barisheff Posted: 07 Dec 2011 09:16 PM PST  Nick Barisheff, CEO at Bullion Management Group Inc. sees the paper markets creating opportunities for precious metals investors. Nick also believes that $10,000 gold is coming sooner than you think. Nick has focused on the world of precious metals and the advantages of investing in gold, silver, and platinum bullion for the past decade. This 25-minute audio interview was done with Jim Puplava about ten days ago. It's posted over at his financialsense.com website...and the link is here. |
| Canada's Gold Problem, It Has None Posted: 07 Dec 2011 09:16 PM PST  Eric Sprott was interviewed on the CTV network here in Canada earlier this week...and it was all about gold. In the interview, Eric mentioned that Canada sold all its gold about ten years ago. In actual fact it was way before then, as it started when Brian Mulroney was the Prime Minister of Canada, Margaret Thatcher was the Prime Minister of England...and Ronald Reagan was in the White House. This must watch 4:52 video arrived in my in-box in the wee hours of this morning...and I thank reader 'Rocky R' for sending it along. The link to the youtube.com video is here. |
| Ron Hera interviews Hugo Salinas Price about remonetizing silver Posted: 07 Dec 2011 09:16 PM PST  Financial letter writer Ron Hera interviewed Hugo Salinas Price, president of the Mexican Civic Association for Silver and a speaker at GATA's Gold Rush 2011 conference in London in August, about his plan for remonetizing the silver ounce Libertad coin in Mexico and the plan's prospects in Mexico's Congress. I stole the above introductory paragraph from a GATA release...and I thank reader Matthew Nel for being the first one through the door with this story yesterday. The interview is headlined "Hugo Salinas Price: What Every Politician Needs to Know about Silver" and it's posted over at the silverseek.com website...and the link is here. |
| Forgotten Treasure: Library Janitor Discovers Silver Coin Cache Posted: 07 Dec 2011 09:16 PM PST  A curious library caretaker in the Bavarian city of Passau has discovered a treasure trove of ancient silver coins and medals that went overlooked for more than two centuries. The surprise find is reportedly worth as much as six figures. Janitor Tanja Höls had often passed by an unassuming wooden box stowed away in an archive in Passau's historic state library, but it wasn't until about two weeks ago that curiosity got the best of her and she was decided take a look inside. What she found were dozens of coins, most of them made of silver. "I had no idea that I'd found a treasure," the 43-year-old told the German news agency DAPD on Wednesday. But when she told the head of the library in the Bavarian city what she had seen, he soon realized their value. |
| Eight Commitment of Traders Charts Posted: 07 Dec 2011 09:16 PM PST  Reader EWF sent me this excellent COT work he did in silver. Fuller says that..."I read your column every day and it's great. I thought you might be interested in the 8 COT charts I created to supplement Ted Butler's analysis." I was. "Multiyear extremes matter when it comes to the Commitments of Traders report. We look for extreme levels of bullishness or bearishness across all three classes of traders. The most bullish COT configuration occurs when the commercials are bullish and the speculators are bearish. This is currently the case in silver." - EWF |
| Banks step up gold lending for dollars Posted: 07 Dec 2011 09:16 PM PST  "'It's hard to understand,' said one New York-based bullion banker." No, it's not hard at all to understand in the context of the need of governments, central banks, bullion banks, and commercial banks to suppress the gold price during a crisis. This story was posted in the Financial Times yesterday...and is posted in the clear in this GATA release. It's a must read...and the link is here. |
| Posted: 07 Dec 2011 08:12 PM PST The new war on wolves LA Times (hat tip Joe Costello) The Parching of the West William deBuys, TomGram (hat tip reader Aquifer) Marathon training 'may pose a heart risk' BBC 'Mythbusters' cannonball hits Dublin home, minivan SFGate Library of Congress to receive entire Twitter archive ZDNet (hat tip reader furzy mouse) Deutsche Bank CEO target of suspicious envelope: police Reuters The absolutely final save for Europe, again MacroBusiness If one EU bail-out fund flops, create two Ambrose Evans-Pritchard, Telegraph The terrible consequences of a eurozone collapse Willem Buiter, Financial Times We cannot afford another half-baked solution Financial Times. The pink paper uncharacteristically put a long, grim editorial on its first page. This is its way of trying to grab the Eurozone leadership by the shoulders and shake them. RBS – Inside The Bank That Ran Out Of Money BBC via YouTube (hat tip Richard Smith) If China's Property Bubble Bursts The Diplomat China's ghost city busts MacroBusiness Big Picture: GOP Getting More Unpopular? FoxNews (hat tip reader Pat Caddell) What Government Aid? James Kwak JPMorgan CEO Jamie Dimon: Stop Bashing the Rich CNBC. Can we just vomit? What about straw manning don't you understand? MF Global and the great Wall St re-hypothecation scandal Thomson Reuters. This article has gotten a lot of attention. However, it basically assets connections and causality that it does not substantiate. And it is also poorly written and has some glaring errors. For instance, it calls repo GENERALLY off balance sheet when that is not true (and repo is comparatively easy to understand, so if the writer is over his head talking about that, I question his ability to analyze the other topics presented in the piece). The MF "repo to maturity" sounds as if it was designed to be a defeasance. But even so, that does not prove the role of rehypothecation also alleged in the transaction. And if MF Global DID rehypothecate as suggested, this means the loss of customers money was not criminal…just bad risk management. But this article is really sloppy. It may be right in part, but I can't tell which parts. What is the value added of banks? VoxEU Antidote du jour:
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| Faber: “I have a stock tip for you.. G O L D.” Posted: 07 Dec 2011 08:05 PM PST This statement from Marc is money.. literally: |
| LISTEN: Peter Eliades talks with Chris Waltzek Posted: 07 Dec 2011 07:59 PM PST
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