Gold World News Flash |
- Gold And Fred Astaire
- Breakout in Gold?
- This Chart From The 70s Gold Bull Market Will Shock People
- The Bright Side Of Plunging Gold Stocks
- India's 2nd Power Grid COLLAPSE – Now 680 MILLION People Affected
- Yet Another Study Predicting a ‘Worldwide Glut of Oil'
- Silver $35-$40 by the end of the year, Gold $1,850
- Swiss National Bank overwhelmed in desperate campaign to devalue franc
- Scandal to Push Gold Coins Higher?
- “The Simple Joy of Winning [Physical GOLD]” with Marlen Esparza
- Guest Post: The Most Often Forgotten Survival Preparations
- What Would Jesus Do with Bankers?
- What happened to Gold? Part 2
- Gold Bullion Coin Sales Plunge 50% In July, Silver Sales Off 20%
- Jeremy Grantham: "I, For One, Wish That The World Would Get On With Whatever Is Coming Next"
- Take Our Guns? Over our Dead Bodies!
- The Gold Price Lost $9.20 Today Closing at $1,610.50 Must Not Drop Below $1,600
- von Greyerz: Events This Fall to Lead to 15 ? 20% Interest Rates, Stock Market Collapse, Bonds Imploding & Gold Exploding! Here?s Why
- Big Mogambo Plans (BMP)
- Gold Triangle Line is Now Potential Support
- bankers are happy to play Nero as Europe burns
- Gold and Silver Update
- Europe, US & Gold Ahead Of Crucial Fed & ECB Meetings
- What Happened To Gold? – Part 2
- Gold Seeker Closing Report: Gold and Silver End Modestly Lower
- Jim's Mailbox
- Gold Daily and Silver Weekly Charts - End of Month, FOMC Tomorrow
- There's a Pink Gold Rush for Potash: Fadi Benjamin
- UPDATE: Cascading Grid Crash: Now 600 Million Without Power in India (Are We Vulnerable?)
| Posted: 01 Aug 2012 01:38 AM PDT Graceland Update
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| Posted: 01 Aug 2012 01:37 AM PDT The Gold Speculator
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| This Chart From The 70s Gold Bull Market Will Shock People Posted: 31 Jul 2012 11:21 PM PDT  Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, put together a fascinating look at the gold bull market of the 1970s and contrasted that with what investors should look for in this bull market. Below is Fitzwilson's piece.
This posting includes an audio/video/photo media file: Download Now |
| The Bright Side Of Plunging Gold Stocks Posted: 31 Jul 2012 11:17 PM PDT Each day another gold stock blows up. Last week it was NovaGold (NG) and then Newmont Mining (NEM) and before that a long list too painful to mention. Although I strongly prefer holding physical precious metals over mining companies, the gold stocks that I do own have put in less than a sterling performance. I [...]
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| India's 2nd Power Grid COLLAPSE – Now 680 MILLION People Affected Posted: 31 Jul 2012 11:15 PM PDT from WSJ:
The grid failure, the second massive blackout in as many days, happened around 1 p.m. local time and affected 18 states and two union territories in north and eastern India, grinding trains across large swaths of the country to a halt, forcing thousands of hospitals and factories to operate on generators, temporarily stranding hundreds of coal miners underground and causing losses to businesses estimated in the hundreds of millions of dollars. The government said power was about 80% restored in north India by late Tuesday evening. Access to electricity is far from universal in India, and Indians are accustomed to regular power outages in particular neighborhoods or sections of cities. Many businesses and farmers see backup diesel-run generators as an absolute necessity.
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| Yet Another Study Predicting a ‘Worldwide Glut of Oil' Posted: 31 Jul 2012 10:30 PM PDT by Staff Report, The Daily Bell:
Dominant Social Theme: OIl is scarce, damnit! Free-Market Analysis: There are many opportunities for us to say "told you so," as the 2000s wind on. We've been "on the money" about gold and silver going up, about the establishment of an Islamic crescent arc in the Middle East and generally about the elite's phony scarcity memes … which brings us to Peak Oil.
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| Silver $35-$40 by the end of the year, Gold $1,850 Posted: 31 Jul 2012 09:25 PM PDT |
| Swiss National Bank overwhelmed in desperate campaign to devalue franc Posted: 31 Jul 2012 09:03 PM PDT Switzerland Is 'New China' in Currencies By Alice Ross http://www.ft.com/intl/cms/s/0/d3176586-db29-11e1-be74-00144feab49a.html There is a "new China" active in the currency markets, according to analysts, as Switzerland's battle to weaken the franc inflates its stockpile of foreign currency reserves. The Swiss National Bank was forced to buy tens of billions of euros in May and June after the eurozone crisis worsened, creating strong haven demand for the franc and threatening the ceiling the central bank set for its currency last September. The SNB is prepared to buy as many euros as it takes to hold the franc at SFr1.20 against the euro to protect the country's exporters. As a result, Switzerland's foreign currency reserves have leapt more than 40 per cent this year to SFr365 billion ($375 billion), propelling it to the sixth largest holder of foreign exchange in the world from ninth last year, behind China, Japan, Saudi Arabia, Russia, and Taiwan. ... Dispatch continues below ... ADVERTISEMENT Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling. "We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company." Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered. For the company's complete press release, please visit: http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf The proportion of euros held by the SNB also ballooned in the second quarter of the year, rising from 51 per cent to 60 per cent. Foreign currency analysts said the bank was buying SFr3 billion worth of euros a day to defend the Swiss franc, with serious knock-on effects for the global forex market. "Switzerland is the new incipient China," said Steven Englander, Citigroup's head of foreign exchange strategy. The SNB is believed to be partly responsible for recent moves in major currencies including the Australian dollar and the Swedish krona as it seeks to offload some of its euros. But that has consequences for other central banks, whose own currencies are rising in value as Switzerland sells its euros back to the market. The Swedish krona has hit a 12-year high against the euro in recent days, while the Australian dollar is at record highs against the single currency. "Sweden will need to set monetary policy now with the SNB in mind," said Geoffrey Yu, foreign currency analyst at UBS. Analysts also warned that SNB's half-year results, released on Tuesday, indicated that the central bank was struggling to rebalance its holdings as it appeared to be buying euros more quickly than it could exchange them for other currencies. Figures showed a drop in the maturity of the SNB's bond holdings from four years to 2.8 years, which analysts said indicated that the bank was taking shorter-term positions because it did not know how long it would carry on accumulating euros at the current rate. "The picture is one of a central bank that's not coping with how much money is coming in," said Kit Juckes, foreign currency analyst at Societe Generale. The SNB declined to comment on its foreign exchange management strategy. Join GATA here: Toronto Resource Investment Conference New Orleans Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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 Announces Wellgreen Preliminary Economic Assessment: Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) reports the results of an independent NI 43-101-compliant preliminary economic assessment for its fully owned Wellgreen nickel-copper-platinum group metals project in the Yukon Territory. The independent assessment, prepared by Tetra Tech, evaluated a base case of an open-pit mine (with a mining rate of 111,500 tonnes per day), an on-site concentrator (with a milling rate of 32,000 tonnes per day), and an initial capital cost of $863 million. The project is expected to produce (in concentrate) 1.959 billion pounds of nickel, 2.058 billion pounds of copper, and 7.119 million ounces of platinum, palladium, and gold during a mine life of 37 years with an average strip ratio of 2.57. The financial highlights of the preliminary economic assessment, shown in U.S. dollars, are as follows: Payback period: 3.55 years Prophecy Chairman John Lee says: "We are pleased with the preliminary economic assessment results. The numbers indicate that Wellgreen is one of most exciting mineral projects in the Yukon. The company is drilling to upgrade and expand the resource base. The infrastructure is excellent as the project is only 1,400 meters in altitude and 14 kilometers from the paved Alaska Highway, which leads to the Haines deep seaport. Discussions are under way with support from local stakeholders regarding permitting and logistics." For the complete press release, please visit: http://prophecyplat.com/news_2012_june18_prophecy_platinum_announces_res...
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| Scandal to Push Gold Coins Higher? Posted: 31 Jul 2012 09:00 PM PDT by Patrick A. Heller, Numismaster.com:
There are some indicators that August could bring a sudden demand for physical gold and silver coins and bars. This shift in demand could be strong enough that it would quickly deplete wholesale and retail supplies of bullion-priced products. To the extent that this occurs, that would almost certainly increase demand for the lower-premium pre-1934 U.S. gold coins as happened during the bullion coin buying frenzy in late 2008. What could spark such a surge in demand that people would even consider purchasing older U.S. gold coins and Morgan and Peace dollars? My friend Bill Murphy, the chairman of the Gold Anti-Trust Action Committee (www.gata.org) passed along news that in the past three weeks he has received the same information from three independent and usually reliable sources. The news is that the LIBOR scandal investigations that have mostly focused on Barclays bank thus far are expanding.
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| “The Simple Joy of Winning [Physical GOLD]” with Marlen Esparza Posted: 31 Jul 2012 08:59 PM PDT [Ed. Note: We do not normally post commercials, however, at the 0.24 mark in this McDonald's commercial you will see they are giving away $25k in GOLD--haven't figured out if it is physical gold or imaginary gold. Please comment if they are giving away the real thing or the illusion of gold.] from, McDonaldsUSA:
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| Guest Post: The Most Often Forgotten Survival Preparations Posted: 31 Jul 2012 07:50 PM PDT Submitted by Brandon Smith from Alt-Market The Most Often Forgotten Survival Preparations
I think it's safe to say with some conviction that in the year of 2012 the concept of survival prepping is NOT an alien one to most Americans. When National Geographic decides there is a viable market for a prepper TV show (no matter how misrepresentative of true preppers it may be), when Walmart starts stocking shelves with long term emergency food storage kits, when survivalism in general becomes one of the few growing business markets in the midst of an otherwise disintegrating economy; you know that the methodology has gone "mainstream". There is a noticeable and expanding concern amongst Americans that we are, indeed, on the verge of something new and unfortunate. Is it the big bad hoodoo of the soon to expire Mayan Calendar? For a few, maybe, but for the majority of us, no. That jazz is a carnival sideshow designed to make the prepping culture appear ridiculous. We don't need to believe in magical prophecies to know that there is a catastrophic road ahead; all we have to do is look at the stark realities of our current circumstances. It does not take much awareness anymore to notice looming fiscal volatility, social unrest, the potential for unrestrained war, and the totalitarian boldness of our government. I'll take the wrath of Quetzalcoatl any day over the manure storm that is approaching us currently. With some estimating a count of 3 million prepper families and growing in the U.S., the motto of "beans, bullets, and band-aids" is finding a home amongst legions. However, being closely involved in the survivalist movement during the past six years and speaking with literally thousands of preppers, it has become clear to me that we still have a long journey ahead of us before we can claim true efficiency and mastery. Sadly, having a stockpile of food, weapons, and some slick tactical gear is not enough to ensure a high likelihood of survival, at least not in any of the social collapses that have occurred in the past century around the world. It's a start, but only just… There are a number of detrimental weakness to the survivalist movement and considerable holes in prepper knowledge that must be addressed now while we have the time and relative safety to do so. The greatest threat to the common survivalist is not economic collapse, roving bandits, Blackwater mercenaries, or predator drones; those dangers are a piece of cake compared to the threat of an overblown ego, which will get a man killed faster than the most sophisticated smart bomb. If we cannot accept that there is always more to learn, and room to improve, we have been defeated before we have begun. The following is just a short list of the many areas in which there is obvious and acute inadequacy in the movement overall… Secondary Retreat Locations Never put all your eggs in one basket. I hear a lot of tough talk from some survivalists who claim they would rather die than leave their property. Of course, I suspect they will see the error in this brand of bravado when the legitimate chance of death actually arises. There is no harm whatsoever in having a backup plan. I'm not sure any survivalist who doesn't is really a survivalist. Stand your ground when necessary, but don't let pure pride and stupidity prevent you from living to fight again another day. Physical Fitness And Health You may be the Tom Berenger-like master sniper of your particular county, but if you can't run a hundred yards with your rifle rig without going into coronary thrombosis, then you aren't going to live long during a collapse scenario. Even those preppers who have age as an excuse…don't really have an excuse. I personally know survivalists and homesteaders in their 60's and 70's who could physically outmatch numerous other preppers of the same age or younger without much effort. The difference? They make a concerted effort to take care of their health. Sometimes certain wise-cracks made by the insipid yuppies of our modern era against suvivalists are true, and we should take serious note when this occurs. The primary insult being that many of us are far too fat to outrun or outfight a paper sack, let alone a determined opponent. I have, to be honest, seen chest beating antics from more than a few clinically obese "preppers" that were truly embarrassing. On the bright side, this does not have to be a permanent hindrance to our success. The solution is simple: Eat less. Eat healthier. Exercise more. A person who has attained a high level of physical fitness has done more than prove his prowess. He has also proven he has the will and the passion to pursue a directed goal and achieve it, regardless of difficulty. This is where the adults are separated from the children in this world. Are you willing to endure extreme difficulty to win something of legitimate value? Do you have the self discipline to forgo certain luxuries and comforts to gain long term advantages? Or, would you rather take the path of least resistance and certain doom? Personal health is no joke for the survivalist. Organization is not the strongest suite of the survivalist movement for a number of reasons. The first being that our paranoia completely impedes our ability to work with others. Now, to be clear, it is not paranoia if they are really out to get you, and with multiple leaked documents like the MIAC Report, the Virginia Fusion Center Report, and the DHS reports on "right wing extremism", it is not as if our concerns are unfounded. However, the movement needs to realize that the primary object of labeling us as "extremists" and categorizing us as potential threats to national security is to create crippling fear. Their main goal is to condition preppers to censor themselves, and to stifle their own organizational efforts. Solid community, even open formation of community, is necessary for countless reasons. The more we isolate ourselves from one another now, the more alone and vulnerable we will be tomorrow. Calls for "OPSEC" should be embraced to a point, but they can also become an excuse for laziness and inaction. No prepper who goes it alone during crisis is going to come out unscathed, if they come out alive at all. This is the great forgotten lesson of survival, from the Depression and Weimar Germany, to Argentina and Bosnia; those persons and families who were isolated simply did not make it. The wide spectrum of skill sets and supplies needed to establish a survival foundation are far too many for any single prepper to attain. The logical fallacy that usually prevents survival networking is the argument that if you are a bigger group, you are a bigger target. This thinking shows a lack of prioritization. During a social or economic collapse, EVERYONE is a target. National chaos does not make distinctions between those who never shared their survivalist tendencies and those who did. The DHS might, but they are not the biggest threat to the common prepper. The most dangerous environment for the prepper, no matter what the circumstances may be, is one in which he has no support. If you do not have ample neighbors and friends on board with the prepper lifestyle, and who can be counted on in an emergency, then you are not ready, nor are your chances very good. Period. At Alt-Market we relentlessly promote the idea of decentralized trade markets because, to be frank, they are going to spring up one day soon whether the IRS, the DOJ, or the Federal Reserve likes it or not. The crisis in the EU has proven my position on the inevitability of the barter dynamic conclusively. These private trade networks are becoming the new foundation for countries like Greece, Italy, and Spain, and it should be noted that the financial instabilities in America far outweigh any of the problem in those places. If we know that economic danger is on the horizon, and we know that barter markets will be the immediate result, then why not build them now, instead of waiting and scrambling after disaster strikes? Any survivalist that does not know who he will be trading for essential supplies, and who does not know what skills he will use to garner those supplies, is in for a world of hurt. Overlooked But Vital Items There is a saying in the survival movement: You're never done prepping. I absolutely agree. Unless you are a millionaire with a highly organized brain, there will always be some other piece of equipment that you'll discover you need down the line. That said, there are some things every prepper should have, but many, from my observations, do not. I have also heard every excuse imaginable and some unimaginable when such people are presented with the recommendation that they obtain these items, lack of money being the usual suspect. Yes, many of us are broke, or feel broke, these days Invariably, though, when most survivalists examine their financial situation carefully, they will discover a host of peripheral expenses that are unnecessary or outright extravagant. I once had a would-be survivalist make the argument that he could not afford a year's supply of food, then admit that he had just went on a Carnival Cruise to the Caribbean. This is an extreme example, but it illustrates a common hang up. Now is not the time for people to live beyond their means, or to shrug off their preps so that they can have a new La-Z-Boy, cable TV, an internet gaming account, a high priced vacation, a six day a week stockpile of beer (hey, cut back a day, guys! Try it out and see how it fits) etc. Times are changing, and they will definitely change without us if we are not careful. There is always a way to get the preps you need, if you are motivated enough to make it happen. Here are a few items that seem to escape from people's lists: Body Armor: This stuff is going to be at a premium in the near future. I have already seen price spikes in good body armor in the days after the Aurora Theater shootings. Why? Because the fear is that the establishment will move to try to ban said gear in response, causing a rush to purchase. That fear is not misplaced. Plus, I would imagine a bullet to the gut, whether accidental or intentional, is not an event to celebrate with a rootbeer float. Believe it or not, body armor rigs that include rifle plates are extremely sparse amongst preppers right now, and this simply can't continue. Gas Masks And Filters: Not long ago I wrote about the revolutions and rebellions that took place in Russia after the formation of the Soviet Union against the abuses of communism. At that time, the more successful the rebellion, the more apt the Soviets were to dump chemical weapons over entire towns, mountains, and valleys, to erase the problem. Never expect that a tyrannical government is going to fight fair. In fact, expect that they won't. Even if you don't foresee such an event taking place in the U.S., it is imperative that every person owns not just a gas mask, but extra filters as well. Plan on dealing with multiple incidences in which your air will be unsafe to breath. NBC Alert Items: How many preppers do you know with a Geiger Counter? I know three, out of the hundreds I speak with regularly. This is not a good sign. If the Fukushima disaster has taught us anything, it is that radiological threats are not just relegated to the realm of nuclear bombs. Every community should have several Geiger Counter devices handy, along with chemical warfare strips which change color when exposed to an offending airborne agent. Remember the panic buying that ensued in Japan for these kinds of goods after the reactor meltdown? Don't overlook radioactivity. Knowing what has been hit by concentrated fallout and what hasn't is a tremendous advantage. Thermal Countermeasures: A box of road flares, IR flashlights, and IR floodlights, should be in every survivalists home. With the advent of predator drones armed with night vision and thermal vision, as well as numerous other nasty weapons platforms, the need for countermeasures that create false thermal signatures to confuse an attacker with this kind of technology is a must. Extra First Aid Supplies: During a collapse, you become the hospital, and no amount of Obamacare is going to help you. Almost every prepper has a first aid kit, but few have one that will really last through a prolonged crisis. Collapse brings with it all kinds of injuries and sicknesses we never think of facing in our current atmosphere, with more frequency than I believe many would like to admit possible. A sterile bandage may be as sought after and as rare as a warm shower in the near future, so stock an ample supply. Solar Panels: I am astonished at how many preppers still do not have any solar power capability today. It's FREE off grid power, for god's sake! Pay the initial costs, and at at least buy a system that is capable of charging and running batteries and essential electronics that will aid you in your survival. Greenhouse: When discussing the idea of relocation, I sometimes hear the assertion that places like Montana are terrible for growing food (usually from people who have never lived in Montana). In fact, a survival garden could be grown almost anywhere, regardless of region or climate, if you use the right methods. One of the best methods is the use of a greenhouse, which many preppers do not have. Set aside your preconceptions of what gardening is, and do what works. Even in winter, some plants can be grown in a greenhouse environment to provide you and your family with precious vitamin rich food. Just build it. Raw Building Materials: Do you have a stockpile of lumber and nails? What about raw iron and steel? Sealants to repel pests and maintain your home? Bags of concrete to reinforce a new addition? Think about how much you will need to build after the final shoe drops. Probably a lot more than you have ever built in your life… No Room For Error Time is running short, and if we are to succeed as a movement, we must be ready to hold a candle to ourselves, admit where we are lacking, and fix the problem while we have the luxury to do so. Ultimately, the most important and most ignored aspect of prepping is our own mindset. Do we have the correct sense of urgency, and are we acting on it? Have we prepared ourselves psychologically for the difficulties ahead? Are we ready to make sacrifices for survival and victory? Will we have what it takes at our core to see this thing through? At this very moment, many do not. But, they have the potential to rise to the occasion. The decision is theirs to make…
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| What Would Jesus Do with Bankers? Posted: 31 Jul 2012 07:05 PM PDT
Preface: If you are an atheist and believe that religion is crazy, please remember that some 85% of the American population identifies itself as Christian and millions more identify themselves as Jewish. Very few Americans are atheists … and the majority don’t trust atheists. The head of Goldman Sachs said he’s doing “God’s work” with his banking activities. The head of Barclays also told his congregation that banking as practiced by his company was not antithetical to Christian principles. Are they right? Is big banking as practiced by the giant banks in harmony with Christian principles? Do Justice Initially, the Bible does not counsel us to ignore the breaking of laws by the the powerful. In fact, the Bible mentions justice over 200 times — more than just about any other topic. The Bible asks us to do justice and to stand up to ANYONE — including the rich or powerful — who do injustice or oppress the people. Indeed, one of the first things God asks of us is to do justice:
While many churches and synagogues have become obsessed with other issues, many have arguably ignored this most important of God’s demands of us. As pointed out by a leading Christian ministry, which rescues underage girls trapped as sex slaves in third world countries:
Should Christians just pray for justice and leave the rest to God? That’s not what the Bible asks us to do. Instead, Hebrews 11:33 tells us that we are God’s hands for dispensing justice, and God uses us to “administer justice.” We have to “walk our talk” and put our prayers into action. God demands that we do everything in our power to act as “God’s hands” in bringing justice. And as Saint Augustine reminds us, “Charity is no substitute for justice withheld.” Indeed:
This is the only place in the Bible where the word “appalled” is used for the way God feels — in other words, the only thing which we know God is appalled by is if people are not doing justice. There are hundreds of other references to justice in the Bible, including:
So if the powerful players in the giant banks broke the laws, they must be held to account. Fraud and Manipulation of Money The big banks have engaged in systemic, continuous ongoing criminal fraud. Allowing the banks to commit crime with impunity is not what Jesus would do. What would Jesus do? Turn over the tables of the money-changers. (economists agree.) Moreover, the giant banks manipulate currency through the use of schemes such as manipulating interest rates (gaming interest rates in different regions – Libor, Eurobor, etc. – can in turn drive their currencies up or down), high frequency trading and artificially suppressing gold prices (which artificially inflates the value of fiat money) . As Ron Paul notes, the Bible forbids altering the quality of money (which, at the time and place, was entirely in the form of coins):
Proverbs 11:1 also provides:
So to the extent that the giant banks have engaged in any dishonest acts or the manipulation of currencies, they are violating scripture. Oppression of the Poor Finally, the Bible condemns oppression of the poor for the benefit of the affluent:
To the extent that the giant banks have oppressed the poor to increase their riches, they are violating scripture. Due to their looting, inequality is now worse in American than in Egypt, Tunisia, Yemen, most Latin American banana republics … and ancient Rome. Postscript: Not all bankers are bad people. For example, many bankers at smaller banks and credit unions are good people who are trying to help their communities. Each must be judged by his own acts.
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| Posted: 31 Jul 2012 07:00 PM PDT Alf Field
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| Gold Bullion Coin Sales Plunge 50% In July, Silver Sales Off 20% Posted: 31 Jul 2012 06:16 PM PDT The latest sales figures from the U.S. Mint show that sales of both gold and silver bullion coins declined dramatically during July. While sales of silver bullion coins have remained at historically high levels, sales of the gold bullion coins have been in a steep decline since 2009. American Eagle Gold Bullion Coin Sales Sales [...]
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| Posted: 31 Jul 2012 05:35 PM PDT We will share much more of Jeremy Grantham's latest just released must read letter shortly, but for now the following section will suffice because, in short, we agree with every single word said in it.
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| Take Our Guns? Over our Dead Bodies! Posted: 31 Jul 2012 04:21 PM PDT |
| The Gold Price Lost $9.20 Today Closing at $1,610.50 Must Not Drop Below $1,600 Posted: 31 Jul 2012 04:18 PM PDT Gold Price Close Today : 1610.50 Change : -9.20 or -0.57% Silver Price Close Today : 2789.50 Change : -11.9 or -0.42% Gold Silver Ratio Today : 57.734 Change : -0.083 or -0.14% Silver Gold Ratio Today : 0.01732 Change : 0.000025 or 0.14% Platinum Price Close Today : 1415.40 Change : 5.10 or 0.36% Palladium Price Close Today : 589.75 Change : 2.20 or 0.37% S&P 500 : 1,382.82 Change : -2.48 or -0.18% Dow In GOLD$ : $167.48 Change : $ 0.65 or 0.39% Dow in GOLD oz : 8.102 Change : 0.031 or 0.39% Dow in SILVER oz : 467.76 Change : 1.10 or 0.24% Dow Industrial : 13,048.11 Change : -24.90 or -0.19% US Dollar Index : 82.62 Change : -0.169 or -0.20% The GOLD PRICE mounted an attack on $1,625 resistance today, reached $1,627.70, then collapsed to close near the bottom of the range, down $9.20 at $1,610.50. Appears to me that the GOLD PRICE will stage another rise tomorrow, then fade to a low perhaps lower than today's. What's important? Must not drop below $1,600. About noon today, just at $1,618, somebody smacked gold with selling, sending it down suddenly to $1,610. Program trading? NGM? Who knows. The SILVER PRICE misplaced 11.9c today, closing at 2789.5c at the bottom of the range. Support from last Thursday is 2780c. Silver remains above its flat topped triangle boundary, in other words, it has still broken out to the upside and done nothing to contradict that or its rise above the 50 DMA (2777c). The SILVER PRICE usually has a slower time getting traction than gold when a rally is just beginning. Markets are bating their breath, waiting on a policy announcement from the Federal Reserve Wednesday and from the ECB on Thursday. "Twill be more loud and showy explosions from the Blarney Cannons, but I am warning y'all, they're shooting blanks. Ain't got a single cannon ball between 'em. Folks, look at the US dollar index chart, Notice that since last Thursday it has been basically flat, ranging 82.40 to 83.00. Today it skootched down 16.9 basis points (0.22%), ending at 82.621. On a longer term chart it punched through its 50 day moving average (82.57) Monday but didn't close there. Today it bounced off the 50 DMA and rose a little bit. In other words, since it hit the top trading channel boundary last week it has only corrected back to its 50 DMA, a common vanilla retracement. But expect no movement until the Fed and ECB touch off their Blarney Cannons. And remember that neither of them need or want a higher dollar, while both need and want a higher euro. The Yen closed at 128.03c [Y78.11], floating just above the downtrend line but paralyzed. Can't imagine the Japanese Nice Government Men agreeing to a higher yen. Euro has bunched up around its 20 DMA (122.86). Closed today up 0.35% at $1.2305. Solid resistance is entrenched above at $1.2500. Any positive noise out of the ECB criminals on Thursday will goose it higher, but not for long. Stocks were confused today, some indices rising, some falling, none very clear. Confusion and indecision abound. Dow shrank 24.9 points (0.19%) to 13,048.11. S&P500 did about the same, losing 2.48 (0.,18%) to 1,382.82. S&P500 is hovering just beneath resistance from that neckline that broke down in May. A Fed announcement perceived as "positive" will give it an up-spurt, but ask yourself: is it a real market if it depends on central bank announcements to survive? Who's kidding whom? As the European and US economies continue to unravel, do not expect any of the frauds in charge to appear on TV announcing they are rolling-back regulations, reducing taxes, eliminating the social burden on employers, or adopting a gold standard. Any of those would help, and fast, to restore economies, but all of them require government to give up fascist control over lives. That they will never do -- voluntarily. These past few days I may have sounded rather harsh and unforgiving toward the criminals, parasites, and tyrants who stand in the way of our lives, freedom and prosperity. Most of the time I merely laugh at them because they are so ridiculous, posturing as Great Benefactors of Humanity and Wise Men when in fact they lack enough maturity to be admitted to an adult Sunday School class. But watching them is like watching a drug addict or alcoholic destroy his life. On the one hand a terrible sadness seizes you whenever someone destroys himself, but at the same time his self-destruction infuriates you so that you want to hit him upside the head with a tire iron and tell him to "Grow Up!" Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 1-888-218-9226 10:00am-5:00pm CST, Monday-Friday © 2012, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't. 
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| Posted: 31 Jul 2012 03:31 PM PDT I believe that in the autumn of 2012 we are going to see…a series of negative events – failing economies, higher unemployment, more QE, and extraordinary levels of social unrest. When QE is announced, I see a temporary rally in stocks but at some point stocks will collapse. I'm not talking about mining stocks, but common stocks outside of the mining sector. *So says*Egon von Greyetz*in edited excerpts from his most recent interview with King World News which is brought to you courtesy of Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds). This paragraph must be included in any article re-posting to avoid copyright infringement. [INDENT][B]HAVE YOU SIGNED UP YET?[/B] [LIST] [*][COLOR=#ff0000]Go [B][COLOR=#ff0000]here to receive Your Daily Intelligence Report [/COLOR]with links to the latest articles posted on munKNEE.com.[/COLOR][/B] [*][COLOR=#ff0000]It’s [B...
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| Posted: 31 Jul 2012 03:29 PM PDT July 31, 2012 Mogambo Guru As a loving, thoughtful, devoted father and husband, I occasionally have a thought for my loving family. Not entirely free of selfish intention, I hope that the wife and kids would see what a terrific dad and husband I am, decide that they have been wrong about me all this time, and that out of sheer gratitude, if nothing else, they would stop being such big pains in my Huge Mogambo Ass (HMA). I know that my fantasy world of "Leave me alone and get out of my way!" is impossible to actually achieve, in that almost everything you can name (except playing golf and consuming something that is tasty, perhaps something delicious in either the "fried" or "sweet" categories) seems to be a royal pain in my HMA these days. But, as seemingly always with Big Mogambo Plans (BMP), things started going awry right away. It started, innocently enough, at breakfast, when I merely asked, in a casually offhand way, that everyone please sign a simple, common, everyday, nothing-special, standard Mogambo Loyalty Oath (MLO) which, they did not even suspect (suckers!), secretly binds them contractually to obey my every command. Their responses to my suggestion were immediate, and they were all very, very loud and very, very completely against it. This is too bad, because I need to get complete and utter control over the kids, because what they don't understand -- although I tell them over and over! -- is that it is absolutely necessary for them all to work, work, work, ignoring child-labor laws to earn slave-labor wages working 18 hours a day in some stinking illegal sweatshop, so that we, as a family (me), can buy more gold, silver and oil to capitalize on the horrifying inflation in prices that is sure to come because the evil Federal Reserve is creating So Stinking Much (SSM) excess money and credit. You can see how this is such a terrific, fool-proof plan that I naturally called it Terrific Mogambo Plan (TMP). But, believe it or not, when I brought up the Terrific Mogambo Plan (TMP), their rude protestations were vexing indeed, even though I cleverly interrupted their cruel, cacophonous carping by gently reminding them that they should "Shut the hell up!", explaining "Only then will you be able to hear any more terrific, yet seldom heard, phrases like 'vexing indeed'! And by having gold, silver and oil in our possession, the effects of inflation and suffering caused by the evil, demonic Federal Reserve creating so much money and credit, will pass us by! And isn't there something in the Bible about how being passed over by financial death is a good thing? What are you, atheists, too?" I could see by the way they stared blankly at me that this new, religious-themed line of argument had reduced them to slack-jawed awe. Quickly seizing the advantage, I continued "And so isn't it thus some obscure religious duty of yours where, and I again quote from somewhere else in the Bible, 'Children shall shut up and do as they are told'?" Well, a long and nasty debate ensued. It was mostly about how Biblically-illiterate I was, how "blasphemy" was henceforth disallowed at the breakfast table, and that (by the lopsided vote of a bunch of biased, ignorant morons) I am the anti-Christ. The biased vote also went against me in debating the resolution that "The Federal Reserve has been creating gigantic amounts of credit and money since 1987 when that arch-bastard Alan Greenspan took over the chairmanship of the Federal Reserve and continuing today under the leadership of that economic horse's ass, Ben Bernanke -- 25 years of monetary debasement! -- leading to the inescapable conclusion that we should be panicked into buying more gold, silver and oil like all the other intelligent people in history when their economies got as bad as this because their governments got to be as bad as this, and that anybody who says differently is a halfwitted, moron, lowlife, piece of stinking dog turd." I know what you are thinking, because I was thinking it myself! You are asking yourself "How could anyone vote against such a wonderful proposition to buy gold, silver and oil, as so charmingly and wittily postulated by the Wonderful, Marvelous Mogambo (WMM), unless they were, indeed, a halfwitted, moron, lowlife, pieces of stinking dog turds?" Beyond proving either that democracy does not always work, or that my kids are a bunch of halfwitted, moron, lowlife, pieces of stinking dog turds, which I have often suspected, this whole sorry episode is but an ugly prelude to the day when they will rue their lazy, selfish, me-me-me-centric decision not to work themselves into early graves for the sake of the family (me). And it is too bad, too, because on that special day that they will hear the Happy Laugh Of The Mogambo (HLOTM) ringing in their ears because I HAVE been buying gold, silver and oil, like all the other intelligent people that ever existed in the world when their economies got like this because their governments got like this, with or without either the help or approval of any damned kids because, to use a line from Portnoy's Complaint, "The way it works around here, in case you ain't heard, is that I am the boss, and I call the shots!" Thus, any unilateral decision to buy gold, silver and oil becomes so easy, so obvious and so seemingly guaranteed that you veritably chortle with glee "Whee! This investing stuff is easy!" 
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| Gold Triangle Line is Now Potential Support Posted: 31 Jul 2012 03:24 PM PDT courtesy of DailyFX.com July 31, 2012 11:39 AM Daily Bars Prepared by Jamie Saettele, CMT Gold has cleanly broken through its triangle pattern. I had pegged the action in recent months as a bearish triangle but was proven wrong last week with the move above the resistance line and 7/3 high. One must respect the bullish break and respect potential for a move back towards (not necessarily above) the 2012 high of 1790.55. The February low is of interest just above 1700. LEVELS: 1592 1600 1610 1641 1672 1705...
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| bankers are happy to play Nero as Europe burns Posted: 31 Jul 2012 03:11 PM PDT • Europe: Eurozone crisis: the bankers are happy to play Nero as Europe burns This so-called crisis is being run by and for banks. They were burned by the credit crunch, by their own reckless lending to a housing bubble … Continue reading
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| Posted: 31 Jul 2012 02:53 PM PDT This chart courtesy Mises.org shows the true U.S. money supply. The trend is exponential and this trend may well put pressure on gold and silver to rise in response. According to Erste Group Research the combined Base Money Supply ... Read More...
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| Europe, US & Gold Ahead Of Crucial Fed & ECB Meetings Posted: 31 Jul 2012 02:50 PM PDT  With market participants eagerly awaiting decisions by both the Fed and the ECB, today King World News interviewed 25 year veteran Caesar Bryan over at Gabelli & Company, which has over $31 billion under management. Here is what Ceasar had to say regarding the upcoming central bank meetings and their impact on key markets: "Clearly it's the week for central banks. The market is waiting to see what the Fed does tomorrow. There is also anticipation as to what action the ECB is going take this week as well. The market will certainly test the European's resolve. Draghi came out and claimed that they would do whatever it took to save the euro."
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| What Happened To Gold? – Part 2 Posted: 31 Jul 2012 02:16 PM PDT My Dear Extended Family, I have known Alf Fields for what seems like forever. I have long held that the best technicians simply know the market of their interest and use TA as a point of focus. The prices of $3500 – $4000 and $4500 are now in the market's focus. Stay the course. Continue reading What Happened To Gold? – Part 2
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| Gold Seeker Closing Report: Gold and Silver End Modestly Lower Posted: 31 Jul 2012 02:15 PM PDT Gold dipped $2.50 to $1619.60 in Asia before it rebounded to $1627.75 at about 8:45AM EST, but it then fell back off for most of the rest of trade and ended near its early afternoon low of $1610.84 with a loss of 0.54%. Silver slumped to as low as $27.89 and ended with a loss of 0.92%.
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| Posted: 31 Jul 2012 02:14 PM PDT What Happened To Gold? CIGA Eric What happened to gold? Europe happened. The invisible hand, desperately short, has used the dollar strength to reduce those positions (chart 1). This transfer from strong to weak hands will continue as long as psychology and TIME permits. Please note that time is running out for 2012. Continue reading Jim's Mailbox
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| Gold Daily and Silver Weekly Charts - End of Month, FOMC Tomorrow Posted: 31 Jul 2012 02:12 PM PDT |
| There's a Pink Gold Rush for Potash: Fadi Benjamin Posted: 31 Jul 2012 01:31 PM PDT The Energy Report: Fadi, the International Fertilizer Industry Association is reporting that the fertilizer market is on the mend, with demand for potash rising 3.7% per year. Today, U.S. potash prices are at about $575 per metric ton (mt), compared with $380/mt last year. What caused the upswing? Fadi Benjamin: Let's look at what caused the potash crash: Back in 2008–2009, potash prices had risen to almost $1,000/mt, driven by Chinese demand. Crop prices were relatively low at $3.50 corn, $10.25 soy and $4.44 wheat. Farmers around the world retaliated as they could not justify the economics of these high potash prices and low crop prices. Many farmers, particularly in North America, took a "potash holiday." They stopped applying the mineral to cropland for a couple of years. The holiday was possible because crops do not consume all of the fertilizer immediately, and the remainder stays in the soil as a reserve. But now, all around the globe, the potash content in soils is too low. Th...
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| UPDATE: Cascading Grid Crash: Now 600 Million Without Power in India (Are We Vulnerable?) Posted: 31 Jul 2012 01:25 PM PDT  Just one day after India's power grid left 370 million residents of its northern provinces without electricity, the country is experiencing another massive crash of their fragile power grid with some 600 million people – about half its entire population – now going through widespread outages in what can only be described as a cascading power grid failure.Though no cause has yet been identified, the power ministry is frantically working to restore electricity as essential services collapse and transportation systems come to a grinding halt. Hundreds of thousands have been trapped in mid transport on trains, while millions sit in traffic jams across afflicted areas. About 600 million people lost power in India on Tuesday when the country's northern and eastern electricity grids failed, crippling the country for a second consecutive day. The outage stopped hundreds of trains in their tracks, darkened traffic lights, shuttered the Delhi Metro and left nearly everyone — the police, water utilities, private businesses and citizens — without electricity. About half of India's population of 1.2 billion people was without power. India's unofficial power grid, a huge number of backup diesel generators and other private power sources, kept hospitals electrified and major airports running. Manoranjan Kumar, an economic adviser with the Ministry of Power, said in a telephone interview that the grids had failed and that the ministry was working to figure out the source of the problem. Read more...... 
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India suffered the world's biggest-ever power outage Tuesday as transmission networks serving areas inhabited by 680 million collapsed, putting the nation's ramshackle infrastructure on stark display.
We face a worldwide glut of oil, with profound economic and geopolitical implications, most of them good … So much for peak oil. According to a fascinating new study by Leonardo Maugeri of the Belfer Center for Science and International Affairs at the the John F Kennedy School of Government, we should stop worrying about when the oil runs out and get ready for $70 a barrel prices (using the Brent benchmark). Likely supply of the black stuff has been significantly underestimated, he reckons, with a veritable glut of new production due to come on stream over the next eight years. – UK Telegraph
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