Gold World News Flash |
- Draghis Bazooka Will Fire Blanks... Just Like Paulson's Did in 2008
- On "Intellectual Monocultures", Record Soybean Prices And Absolute Returns
- Ellis Martin Report with Andy Hoffman–Saving in Gold and Silver for Collapse
- Hathaway – This Financial System Is Now In Its Final Stages
- Gerald Celente: The Nature of Collapse and What's Destroying This Nation
- Simon Caufield on why gold is perfect for value investors
- Ignore GFMS misinformation, Embry tells King World News
- Small Banks Forced Out By Shadow Banks Under New Rules
- The Gold Price Advanced Today as the Silver Price Broke Through it's Upper Boundary
- Love Trade Cools as Central Banks' Gold Demand Heats Up
- Lord Rothschild bets against the Euro/Silver advances above the resistance $28.50
- Career Risk Panic: Only 11% Of Hedge Funds Are Outperforming The S&P In 2012
- Embry - Apple, Gold, Manipulation & Financial Implosion
- Bring Home Profits from Nevada: David Sidders
- ZH: “In 2011, every dollar of GDP growth created $2.08 in debt. In real life, that’s 108% interest plus the nominal rate.”
- Guest Post: Shhhh… It’s Even Worse Than The Great Depression
- Gold and Silver Shine on Weaker U.S. Dollar
- Silver Spike Does Not Deter Zombie Market As Apple Touches The Sign Of The Beast
- Gold Seeker Closing Report: Gold Gains and Silver Surges
- Gold Daily and Silver Weekly Charts - Nice Little Rally In Silver
- Love Trade Cools as Central Banks’ Gold Demand Heats Up
- Deprogramming from the Cult of Equities
- Boom Goes The Dynamite: Silver Pops
- This Banker Is Buying Gold
- High-Frequency-Trading Tail Wagging the Silver Price Dog
- Great Expectations for Silver in an Inflationary World
- Mining shares are contrarian's dream, Hathaway tells King World News
- ‘Zero Inflation’ in U.S. = Hyperinflation Warning?
- Gold, Money, Power and 9/11 Coverup
- Gold Price and Indian Demand Shifting Trends
| Draghis Bazooka Will Fire Blanks... Just Like Paulson's Did in 2008 Posted: 20 Aug 2012 08:54 PM PDT I wanted to post an update to you as you no doubt are worried about the market especially given the speed and strength of this latest rally at a time when we are largely short the markets. First and foremost, you should know that nothing has changed in Europe. This market move was kicked off by Mario Draghi, Prsident of the European Central Bank, claiming that he has some secret up his sleeve that will save the EU. Draghi is lying. The EU simply does not have the funds to do anything major at this point. THE EFSF bailout fund has €65 billion in funding left. Spain alone will need €500 billion in the next six months if not sooner. Italy will likely need that much if not more. The ESM, which is the other bailout mechanism is supposed to be up to €700 billion in size. However, 30% of this €700 billion is supposed to come from Spain and Italy. Does anyone see a problem with that? Also, Germany has not even ratified the ESM yet. Instead, the German constitutional courts will decide on September 12 whether or not the ESM is constitutional. If they do not, then the EU will implode. But, for the sake of argument, let’s assume that the German courts vote in favor of the ESM. The issue still remains that Germany will not permit the ESM to get a banking license (we know this as it’s been repeated time and again by German officials) which means the ESM cannot buy banking bonds (which is what Spain and Italy desperately need). Why would Germany not go for this? Because Germany will be the largest contributor to the ESM. If it decides to give the ESM a banking license, then Germany is putting itself in a position where it would have to potentially backstop EU banking deposits. The EU’s banking deposits are north of €17 trillion. The banking deposits at the PIIGS alone are over €5 trillion. Germany’s economy is only €3 trillion. It’s simple math. Germany does not have the firepower to backstop the EU. The country has already committed nearly €1 trillion in backdoor bailouts. As a result of this, its Debt to GDP ratio is closing in on 90%... calling its own solvency into question. German political leaders are many things. Stupid is not one of them. Instead of Merkel and her team taking the fall for what will ultimately be Germany’s decision NOT to support the EU (how could they? Germany doesn’t have the money and the German people don’t want to support more bailouts), they’ve decided to make the issue a matter of public referendum. Given that the vast majority of Germans are sick and tired of bailing out Europe, what do you think the likelihood of the German people voting to support the PIIGS are? We already know that most Germans want Greece kicked out of the Euro if it fails to meet its debt repayments. So it’s pretty obvious that if it comes down to it, the German people won’t vote in favor of supporting the EU for much longer. This leaves the ECB as the sole backstop of the EU. The ECB cannot simply monetize everything under the sun. If it did, the EU bond market would blow up and it’s game over. Moreover, if the ECB did this, Germany would pull out of the Euro (69% of Germans are already worried about inflation). So again, that’s a checkmate position. My point with all of this, is that we’ve just witnessed Mario Draghi’s “bazooka” moment. Remember back in 2008, when Hank Paulson claimed that it he made a big enough monetary intervention threat that the markets would somehow correct themselves? Well, we know how that turned out (the markets called his bluff and the Crash happened). Mario Draghi has just done the same. And he’s produced the same sharp short covering rally. But it’s going to end in the same way. With that in mind, if you’re not already taking steps to prepare for the coming collapse, you need to do so now. I recently published a report showing investors how to prepare for this. It’s called How to Play the Collapse of the European Banking System and it explains exactly how the coming Crisis will unfold as well as which investment (both direct and backdoor) you can make to profit from it.
This report is 100% FREE. You can pick up a copy today at: http://www.gainspainscapital.com
Good Investing!
Graham Summers
PS. We also feature numerous other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s a US Debt Default, runaway inflation, or even food shortages and bank holidays, our reports cover how to get through these situations safely and profitably.
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| On "Intellectual Monocultures", Record Soybean Prices And Absolute Returns Posted: 20 Aug 2012 08:36 PM PDT Back on March 7, 2011, when discussing the phenomenon of Zero Hedge, prominent tech blogger and recent Bloomberg paid content expansion Paul Kedrosky had this to say: "After prolonged exposure [to Zero Hedge] I have to turn off my wi-fi not to sell all my U.S. dollars for physical gold, start an anti–Goldman Sachs blog and buy a Kansas soybean farm protected by a moat. But here is the crazy thing: Zero Hedge — a morning zoo of pessimistic financial blogging — is fun. Granted, you (O.K., I) can't read it for long without the aforementioned soybean-farmer effect, but the downbeat site has found an entertaining niche at the intersection of The X-Files, finance and tireless anti–Goldman Sachs–ishness. So while I don't read Zero Hedge regularly — it's too bearish, too conspiratorial and too much of an intellectual monoculture — I like knowing that it exists." This is all poetically ironic. Because in the 15 months since this statement made the public record, gold has returned 13.24% (after hitting an all time record high) while Goldman has declined by 33.85%...
... But most entertaining is that moments ago soybean futures just hit an all time high, and are now up 36% since March 7, 2011.
Perhaps that Kansas soybean farm, with or without a moat, would not have been such a bad investment after all. Then again, it is oftentimes wiser to urge the nouveau intelligentsia of the world to piggyback into the latest bandwagon of brilliance-cum-slam dunk investment such as Facebook. After all it is techy, it's growthy, and is full of sophisticated buzzwords. As for this intellectual monoculture, we will stick with the 20%+ blended YoY, if too bearish and conspiratorial, thing.
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| Ellis Martin Report with Andy Hoffman–Saving in Gold and Silver for Collapse Posted: 20 Aug 2012 08:30 PM PDT |
| Hathaway – This Financial System Is Now In Its Final Stages Posted: 20 Aug 2012 08:15 PM PDT from KingWorldNews:
Today four-decade veteran John Hathaway told King World News, "We're in the final years of what's been happening since the 1930s." The prolific manager of the Tocqueville Gold Fund also said, "Needless to say, the mainstream media has no clue about it." Hathaway also warned the current system is "… now in its final stages." Here is what Hathaway had to say: "I continue to believe that gold is at the end of its year long correction, and nobody gets it. From my point of view the setup couldn't be any better than that. There is absolutely no volume in the mining shares, and yet gold already made a low in December of last year. Gold has held that low and the gold shares made their low in the middle of May." "The XAU bottomed around 140 and we are at 160 now. If you take that time interval, from the middle of May until now, gold is up 5%, but the mining shares are up about 15%. So gold stocks are beginning to outperform the metal. In my experience this has always been a very bullish configuration. You read something every day about QE… John Hathaway continues @ KingWorldNews.com
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| Gerald Celente: The Nature of Collapse and What's Destroying This Nation Posted: 20 Aug 2012 08:02 PM PDT |
| Simon Caufield on why gold is perfect for value investors Posted: 20 Aug 2012 08:00 PM PDT |
| Ignore GFMS misinformation, Embry tells King World News Posted: 20 Aug 2012 06:29 PM PDT 8:25p ET Monday, August 20, 2012 Dear Friend of GATA and Gold: Sprott Asset Management's John Embry today tells King World News that the GFMS metals consultancy is a long-time purveyor of misinformation about gold and should be ignored. Western central banks, Embry adds, are operating another version of the London Gold Pool of the 1960s and it will work until it doesn't and in the meantime they are setting gold up for a "massive move." Embry's interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/20_Em... CHRIS POWELL, Secretary/Treasurer 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... 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 Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/.
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| Small Banks Forced Out By Shadow Banks Under New Rules Posted: 20 Aug 2012 06:15 PM PDT from Silver Vigilante:
VP of equity research at Rochdale Securities, Bove outlined several aspects the government has "targeted" in the banking industry and how they were not affecting their official objectives. Instead, the new regulations helped the "shadow banking system." "It has been my strong belief that the United States government and its agencies have embarked upon a series of actions that have created disarray in every sector of the consumer financial markets," Bove stated. "Make no mistake, consumers are paying more for less. Winners will emerge in this period of disarray." Dudd-Bank – ahem, Dodd-Frank – came to fruition as a melange of sweet reforms to the flowing blood of Wall Street, fresh off their floating spaghetti-and-meatballs in the sky subprime mortgage industry bets.
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| The Gold Price Advanced Today as the Silver Price Broke Through it's Upper Boundary Posted: 20 Aug 2012 05:57 PM PDT Gold Price Close Today : 1620.10 Change : 3.80 or 0.24% Silver Price Close Today : 28.586 Change : 0.591 or 2.11% Gold Silver Ratio Today : 56.675 Change : -1.061 or -1.84% Silver Gold Ratio Today : 0.01764 Change : 0.000324 or 1.87% Platinum Price Close Today : 1496.90 Change : 25.10 or 1.71% Palladium Price Close Today : 607.10 Change : 2.60 or 0.43% S&P 500 : 1,418.13 Change : 0.00 or 0.00% Dow In GOLD$ : $169.34 Change : $ (0.43) or -0.25% Dow in GOLD oz : 8.192 Change : -0.021 or -0.25% Dow in SILVER oz : 464.27 Change : -9.93 or -2.09% Dow Industrial : 13,271.64 Change : -3.56 or -0.03% US Dollar Index : 82.46 Change : -0.152 or -0.18% The GOLD PRICE advance $3.80 to $1,620.10. That smashed the $1,616 chains holding it last week, but only takes gold into heavy slogging through $1,625 to $1,630 resistance. A close above $1,630 will take gold above this present formation and free it for $1,680. The SILVER PRICE did it today, it broke through 2860c and through the upper boundary of its flat-topped rising triangle. Closed up 59.1c (2.1%) at 2858.6c. Rough measuring device is the triangle's height, $2.35. A rise from the breakout at 2820c would carry silver to 3055, right about the 200 DMA, a good pausing place for the first leg of the rally. Remember that the downtrend line from the April 2011 high now stands about 3200c. Silver must break that barrier before it confirms a new rally has begun. The SILVER PRICE closed at a photogenic 2858.6c, but in the aftermarket was trading 2875.5c, nearly 20c higher. Best way to confirm this breakout would be a close tomorrow above 2900c. Should come this week. Any close under 2820c would be bad juju, gainsaying the breakout. At this point anyone short silver ought to lift up his scalp and check his brain to see if it's still there and working. The silver and GOLD PRICE are showing all the early signs of a solid breakout and advance, and this leg will carry beyond $2,000 and 5000c. Best strategy is to BUY breakouts. One more day above this level confirms silver's breakout. No news today but rumors and political hogwash. I can eat day old grits and drink blinky milk and I'll even eat greenish baloney if I'm really hungry, but I simply can't stomach that political hogwash. They put the hyp in hypocrite. Currencies didn't move much today. Dollar gave back 15.2 basis points (0.18%) from Friday's close, so it remains in the same tightly controlled range. Euro gained 0.12% to $1.2347, for no good reason. It gas formed a little even-sided triangle, but remains below the 50 day moving average and the critical 62 DMA. Yen perked up 0.21% to 125.94c (Y79.40) but not enough to gainsay its rollover into a downtrend. STOCKS were as confused as a politician discussing ethics -- some up, some down. Dow inched down 3.56 (0.03%), a microscopic move that left it at 13,271.64. S&P500 moved 0.3 points, to 1,418.13. Stocks are stalled, but will probably see slightly higher prices before the carnage and bloodletting begin. 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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| Love Trade Cools as Central Banks' Gold Demand Heats Up Posted: 20 Aug 2012 05:26 PM PDT The two largest gold buyers in the world that largely drive the Love Trade, China and India, underwhelmed the metals market with their subdued demand for the yellow metal during the second quarter of this year. Read More...
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| Lord Rothschild bets against the Euro/Silver advances above the resistance $28.50 Posted: 20 Aug 2012 05:19 PM PDT by Harvey Organ, HarveyOrgan.Blogspot.ca:
Gold closed up today by $3.60 to $1620.10. Silver was the star of the day rising past the resistance level of $28.50 to close at $28.59. Here are your access market closes; gold; $1620.40 silver; $28.81 Bill Murphy accurately describes the gold and silver trading today: Gold was dropped to $1609, while silver fell below $28 yet again (Spot Kitco price) to $27.86, but then recovered to go modestly positive. Read More @ HarveyOrgan.Blogspot.ca
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| Career Risk Panic: Only 11% Of Hedge Funds Are Outperforming The S&P In 2012 Posted: 20 Aug 2012 05:10 PM PDT The S&P500 may be soaring to new 2012 highs, and has its all time highs within short squeeze distance, yet paradoxically this is arguably the worst possible news to the cadre of US hedge fund managers used to beating the market year after year, thus justifying their (increasingly more unsustainable) 2 and 20 fees. The reason: according to just a released report quantifying hedge fund performance so far in 2012, with an average return of 4.6% as of August 3 compared to a 12% return for the S&P, a pathetic 11% of all hedge funds are beating S&P year to date. This is the worst yearly aggregate S&P 500 underperformance by the hedge fund industry in history, and also explains why the smooth sailing in the S&P500 belies the fact that nearly every single hedge fund manager (and at least 89% of all) is currently panicking like never before knowing very well there are only 4 more months left to beat the S&P or face terminal redemption requests. And with $1.2 trillion in gross equity positions, the day of redemption reckoning at the end of the year (and just after September 30 for that matter as well) could be the most painful yet. it also explains why, just like every other quarter in which career risk is at all time highs, HFs are dumping everything not nailed down and buying up AAPL, which as of June 30 was held by an all time high 230 hedge funds (more on that later). Key HF performance observations from Goldman:
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| Embry - Apple, Gold, Manipulation & Financial Implosion Posted: 20 Aug 2012 03:55 PM PDT  Today John Embry told King World News, "... the market cap of Apple is now greater than three times that of all of the world's publicly traded gold and silver equities." Embry also said, "Irrespective of the back and forth in the gold market, in a covert fashion, the Western central banks have been acting much like they did back during the London Gold Pool in the 60s ... the Western central banks can only get away with this for so long, before they are completely overrun." Here is what he had to say: "I'm focused on the better silver price, which sort of came out of left field. Thirty-eight times silver was recently beaten back on a minute by minute basis at the $28 level. Every time it went though $28 it was jammed back down. So for silver to breakout today and make a run towards $29 is significant, and very promising going forward."
This posting includes an audio/video/photo media file: Download Now |
| Bring Home Profits from Nevada: David Sidders Posted: 20 Aug 2012 03:33 PM PDT The Gold Report: What is your overall strategy for gold-related investments at this time? David Sidders: As with any sector in the market right now, everybody is a bit cautious. There's risk in everything and around every corner. We have problems in Europe. We have problems in the U.S. Investors are pulling in the reins, and money is tight. In this environment, I strongly prefer domestic operations in well-known, proven, mining-friendly jurisdictions. I don't need the additional political risk from overseas investing. The strategy is simple—stick with domestics. If you want something exotic, go order a Mai Tai at the bar. Investors aren't compensated for the risks involved in exotic mining investments at this time. Investors have been chasing rainbows in Africa and windmills in South America and lots of other fantasies when they could be focusing on domestic projects that are crushing rock, pouring ore and making profits in Nevada. TGR: Do you have a preference between exploration/...
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| Posted: 20 Aug 2012 03:05 PM PDT Shhhh… It's Even Worse Than The Great Depression "Velocity of money is calculated by simply dividing GDP by a given money supply."
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| Guest Post: Shhhh… It’s Even Worse Than The Great Depression Posted: 20 Aug 2012 02:46 PM PDT Submitted by Mark McHugh from Across the Street Shhhh…It's Even Worse Than The Great Depression According to Wikipedia, Narcissistic personality disorder (NPD) affects one percent of the population and has little to do with looking at yourself in the mirror. It has a lot to do with unrealistic fantasies of success, power and intelligence. Some NPD sufferers become cult leaders or mass murderers, the rest become economists and policy-makers. Despite having a highly elevated sense of self-worth, narcissists have fragile self-esteem and handle criticism unpredictably, so let's keep this to ourselves…. Velocity of money is the frequency with which a unit of money is spent on new goods and services. It is a far better indicator of economic activity than GDP, consumer prices, the stock market, or sales of men's underwear (which Greenspan was fond of ogling). In a healthy economy, the same dollar is collected as payment and subsequently spent many times over. In a depression, the velocity of money goes catatonic. Velocity of money is calculated by simply dividing GDP by a given money supply. This VoM chart using monetary base should end any discussion of what "this" is and whether or not anybody should be using the word "recovery" with a straight face:
In just four short years, our "enlightened" policy-makers have slowed money velocity to depths never seen in the Great Depression. Hard to believe, but the guy who made a career out of Monday-morning quarterbacking the Great Depression has already proven himself a bigger idiot than all of his predecessors (and in less than half the time!!). During the Great Depression, monetary base was expanded in response to slowing economic activity, in other words it was reactive (here's a graph) . They waited until the forest was ablaze before breaking out the hoses, and for that they've been rightly criticized. Our "proactive" Fed elected to hose down a forest that wasn't actually on fire, with gasoline, and the results speak for themselves. With the IMF recently lowering its 2012 US GDP growth forecast to 2%, while the monetary base is expanding at about a 5% clip, know that velocity of money is grinding lower every time you breathe. The Fed's refusal to recognize the importance of velocity of money quickly goes from idiotic to insidious. Here's a question: If I give you 50¢ and as a result of that transaction, you owe me $1.00, what interest rate have I charged you? Obviously, I've charged you 100% interest and I don't give a rat's ass about you or your kids. I'm pure evil and you're pure stupid. But believe it or not, this kind of master-slave arrangement isn't enough to satisfy a true narcissist. The narcissist needs to be exalted for his actions, no matter how unjust.
He likes to be thought of as "accommodative." In 2011, every dollar of GDP growth created $2.08 in debt. In real life, that's 108% interest plus the nominal rate, and our twisted leaders want you say, "Thank you sir, may I have another!" 2011 wasn't an anomaly either; it's the new normal. Since the Bush deficit increases (to call a spade a spade) went into effect, the rise in debt has exceeded the rise in GDP 6 of the last 10 years (the four years of positive GDP-minus-Debt can be directly attributed to the housing bubble). That never happened in the U.S. during Great Depression/WWII era. One place where it did happen was in the Weimar Republic (which shortly thereafter became known as Nazi Germany) . No one's ever done a better job of explaining how quickly things unraveled there than Art Cashin (this is an absolute MUST read):
So I've got a whole bag of "Fuck You!" for anyone who still thinks nothing could be worse than another Great Depression. The path we're on ends with mountains of corpses when the great experiment fails. America's most prestigious education institutions have become grooming salons for malignant narcissists. Men and women high on their own self-important sense of entitlement, but short on any sense of honor or duty (like passing a budget or arresting someone who stole a billion dollars) and devoid of any real insight or achievement. So far it's working out quite nicely for them:
Fun fact: Washington DC now boasts, by far, the highest and fastest growing income per capita in America. No matter what color Kool-aid you prefer, a Harvard Law School graduate who wipes his ass with the constitution will occupy the White House until 2016. Any flavor difference you think you detect is artificial. Neither party has any intention of balancing the budget or stopping the generational rape of America. They exist only to give you the illusion of choice. There's another reason nobody wants you thinking about velocity of money and triple-digit principle-based interest rates. When you get comfortable with the idea that the same dollar gets spent over and over in the economy, you'll begin to reconcile that notion with the fact that total government spending (Federal, State and Local) accounted for over 40% of GDP in 2011. Then it becomes clear that you are already living in on of those countries where the government controls everything (call it whatever -ism you want). Next thing you know, you'll start connecting the dots between the nation's skyrocketing public debt and the private fortunes amassed by a select few, and no one who's in on the fix wants that. Better than one in seven Americans are now on food stamps thanks to Washington's disastrous policies, but narcissists refuse to recognize the consequences of their own actions. That's how they sleep at night. They see themselves as saviours, feeding the inferior huddled masses too stupid to fend for themselves, so of course they deserve more money. The only thing they learn from shitty results is that they need more power, more control and more money. The so-called "fiscal cliff" represents nothing more than a return to policies proven far less dysfunctional than the current ones, but Washington doesn't see it that way. Instead they want you to beg them to save you from this horrific monster and adore them when they double down on policies that serve to increase your dependency on them. By any and all reasonable measures, it's worse than the Great Depression, and still deteriorating. Just remember that truth is the narcissist natural enemy before you speak.
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| Gold and Silver Shine on Weaker U.S. Dollar Posted: 20 Aug 2012 02:32 PM PDT Gold, silver and crude oil prices are closely related to the movement of the U.S. dollar. After a healthy consolidation, gold began to move up in August 2012. At the same time, deteriorating expectations for crop yields ... Read More...
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| Silver Spike Does Not Deter Zombie Market As Apple Touches The Sign Of The Beast Posted: 20 Aug 2012 02:28 PM PDT UPDATE: AAPL cracked the demonic $666 level after-hours For a moment this morning some were even thinking this would be the day, this could be the one where volumes come back, ranges expand, and some level of risk sensitivity returns; but alas, despite all the AAPL pumping and Silver surging, Equities ended the day unch on weak volumes (actually cash equities ended very small down for the 16th of the last 17 Monday red closes). The S&P 500 e-mini future (ES) intraday range was a remarkably low 8.5pts, volume at its new post-Knight normal (half-normal), average trade-size lower than average, and risk-assets in general were highly correlated during the day-session as Treasuries also closed unchanged, USD down very modestly and Oil unch. Financials and Tech & Healthcare and Utilities were the only sectors in the green on the day (in an awkward risk on and off way). Copper dumped as Silver surged 2.6% on the day to two-month highs. AAPL also surged 2.6% (up 7% in the last 6 days - a level that has repeatedly been followed by pullbacks this year) as everyone's new favorite IPO (MANU) lost 2.6% (even as FB gained almost 5% closing just below $20). VIX gained 0.6 vols ending above 14% (but drifted lower from the open). While the markets main seem zombie-like, there were some intraday moves in FX and Treasury markets - but these were dominant during Europe's open and faded into the US day-session. AAPL surged 2.6%, +7% in the last 6 days and on very heavy volume...
and the AAPL effect... +5.4% in 3 days provides a 90-100bps outperformance (over 3 days!!) of NASDAPPL over the Dow/S&P/Transports index...
S&P 500 futures saw significant early volumes as they pressed against VWAP but then crept higher into the close (after Europe's close) on lower and lower volumes...
The pattern was similar for most risk assets today - with an early volatility episode during Europe's early trading that recovered and stabilized on vapors in the US session...FX markets...
but Treasury and FX carry swings drove early European 'strength' in our markets only to give it back once the ECB denied... as is clear below - during the US day-session, risk assets (ES and CONTEXT) were highly systemically correlated...
and Silver stood alone among commdoties in its spikey surginess today...
Credit indices outperformed - catching up to equity's ebulience - but desk chatter is mostly on re-racking moves (i.e. runs quoted on back of market moves) as opposed to trades with volumes dire. HYG remains an underperformer - though managed a small green close today against equity's red...
Charts: Bloomberg and Capital Context
Bonus Chart: AAPL/Silver ratio - it intrigued us that AAPL and Silver were both outliers today and both rose almost exactly 2.6% or so from Friday's close... so presented for your viewing pleasure the channel-breakout of the AAPL/Silver ratio (that occurred immediatley after the end of LTRO2)...
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| Gold Seeker Closing Report: Gold Gains and Silver Surges Posted: 20 Aug 2012 02:19 PM PDT Gold edged up to $1619.91 in Asia before it fell back to $1610.25 at about 8:30AM EST, but it then rallied back higher in New York and ended near its early afternoon high of $1622.40 with a gain of 0.3%. Silver slipped back to $27.927 before it also rallied back higher in New York and ended near its late session high of $28.83 with a gain of 2.64%.
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| Gold Daily and Silver Weekly Charts - Nice Little Rally In Silver Posted: 20 Aug 2012 02:14 PM PDT |
| Love Trade Cools as Central Banks’ Gold Demand Heats Up Posted: 20 Aug 2012 02:02 PM PDT The two largest gold buyers in the world that largely drive the Love Trade, China and India, underwhelmed the metals market with their subdued demand for the yellow metal during the second quarter of this year.
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| Deprogramming from the Cult of Equities Posted: 20 Aug 2012 01:50 PM PDT August 20, 2012
"Wall Street has not helped this image at all. There seems to be no end to lurid scandals or crises of confidence in the system." We chronicle many of them here in The 5 — Knight Capital's "trading glitch," or the "disappearance" of customer money from MF Global. "The Facebook IPO may have been the last straw," ventures Big Picture blogger and Vancouver favorite Barry Ritholtz in his latest Washington Post column.
"Like a once bright-green aspen turning to subtle shades of yellow then red in the Colorado fall, investors' impressions of 'stocks for the long run' or any run have mellowed as well." It's tempting to chalk that up to the "bond king" talking his book… except that he's been down on bonds of late too. And as Barry points out, the evidence is all around: Investors continue to bail from stock mutual funds. CNBC's ratings are in the toilet. Smart Money magazine is transitioning to a web-only format.
"I'm with David Goldman, who writes in the Asia Times under the pen name Spengler that Gross is only 'half-right.' The market, as always, has its enthusiasms. "Stable, predictable cash flows and yields are popular," says Chris. "Unstable, uncertain cash flows with no yield are not." As evidence, Goldman points to utilities — up 30% in the last two years… and mining stocks, down 24% over the same span. "Eventually, this will break," Chris adds parenthetically. "Timing is, as always, uncertain."
"Volume, liquidity, public participation in equities… All of these are overrated concepts. Market values can move dramatically with hardly any volume at all and be just as real as a change accompanied by lots of volume." And despite the scads of scandals.
And doing so does not entail stuffing cash in a mattress or burying gold in your backyard. (Not that we disapprove of either practice.) In recent months, Chris has suggested funds and private partnerships that invest the way he does. "There are many worthwhile and interesting opportunities out there that are not listed on our portfolio page. I try my best to dig up not only stocks, but simply great investment ideas." One of his more unconventional ideas is one we touched on last month — "thrift conversions." That's when a savings and loan converts to a publicly traded bank. They're up an average 27.1% since Chris got his premium readers into them at the start of 2011. Chris also says selected stocks remain attractive — provided they meet the exacting standards of his CODE system. We last touched on it a year ago. It's worth revisiting…
[Ed. Note: All of our editors maintain a proprietary screen when evaluating their recommendations. Byron King has his "ABCD" technique evaluating resource plays. Jim Nelson runs his income plays through a seven-point filtering system. Greg Guenthner and Jonas Elmerraji evaluate five factors running their "CXS" screen for penny stocks. Patrick Cox and Ray Blanco are satisfied with nothing less than the potential for life-changing gains with their tech and biotech picks. For less than 36 more hours, you have the chance to access all of their plays via the Agora Financial Equity Reserve. For a select few of our readers, this suite delivers everything they want (all our stock picks)... and nothing they don't (like options services). If you already subscribe to one or more of our premium services, your savings can be substantial. "I already received Mayer's Special Situations and Breakthrough Technology Alert," a satisfied member writes. "If I wanted to renew both of those, it would basically have cost me close to $2,000. So for the same price, I was able to receive these two publications and five other ones for life." Make that seven as of this summer. The Equity Reserve is a better value now than ever... and your window of opportunity to join is closing fast. The offer is open until midnight tomorrow. For a comprehensive rundown of the privileges and benefits that come with membership, please review your invitation here.]
Meanwhile, S&P futures sit at 1,417. "It is probing new highs and this provides us a great opportunity to generate income," says Abe Cofnas, introducing this week's "mock trade." 
A judge in Murray County resigned last week, under fire for "distributing pre-signed blank arrest and search warrants to local law enforcement officers," in the words of an account at Law.com. Judge Bryant Cochran evidently made a habit of that for his police buddies: It was too much for Georgia's Judicial Qualifications Commission, which appears to believe the Fourth Amendment still counts for something. But with Cochran's resignation, the investigation is over: The commission will release no further details. "Makes one wonder what a more-through and public investigation would turn up," writes Eapen Thampy of Americans for Forfeiture Reform. "I have heard of cases where judges accepted asset forfeiture kickbacks from local law enforcement for similar services…did Cochran have a similar payday?" Worse, how widespread is the practice? And didn't we as Americans already fight this out some 250 years ago? Why yes: In 1760, Britain began carrying out its "writs of assistance" in the Colonies — asserting the authority to enter anyone's home with no advance notice and no probable cause, the better to enforce anti-smuggling laws. The fiery attorney James Otis challenged the writs in court — unsuccessfully, but leaving a powerful impression on John Adams, who was in attendance. "The child independence was then and there born," Adams wrote years later, "[for] every man of an immense crowded audience appeared to me to go away as I did, ready to take arms against writs of assistance." In that same spirit, we announce the merger — effective today — of our publications Whiskey & Gunpowder and Laissez Faire Today. If you're currently a Whiskey patron, you don't have to do a thing: You'll start getting Laissez Faire Today this afternoon. Today's essay is by Jeffrey Tucker, with the provocative title "50 Shades of Government."  "Should seniors be able to rob young people of their earnings in order to enjoy a luxurious retirement," he writes, "or should seniors be especially taxed and punished for using more than their fair share of society's health care resources? Whichever way that debate ends up, liberty itself suffers, and the property rights of everybody are less secure." If you're not already signed up for Laissez Faire Today, you can do so on the right-hand side of this page.
In 2010, both he and I ended up reporting for jury duty the same day. After a close shave, I was struck from consideration for a murder trial at day's end. But Addison was roped into a civil suit that was a farce on every conceivable level. Today, Addison was kicked out after barely an hour because he was wearing shorts and flip-flops. "Not excused, mind you, sent away," he relates via IM. "The security guard was laughing at me. 'You can't come to jury duty in shorts, what are you thinking? Go to room 239.' "Standing in a line outside 239, a woman walks by and tells all of us we can't stand in the hall. "'Uhh… where are we supposed to stand?' "'You? You're different, you have shorts on. You stay there.' The woman who looked at my summons didn't even look up to see whether I was actually wearing shorts or not.'" Addison was told to return within five business days. Whereupon he'll have new and equally nonsensical tales to relate…
"Reason being your failure to tell your readers about Obama's health care plan, which takes $715 billion (spelled with a B) out of Medicare as of next year!! "While knocking Ryan who is trying to get the spendaholics in Washington under control!!" The 5: So you're the guy who told Rep. Bob Inglis (R-S.C.) at a town hall meeting in 2009 to "Keep your government hands off my Medicare."
"If discussing such crap in front of your kids leads to some of the moronic comments from your readers this week, then I am even more grateful to my parents than before. If any of your readers think that there is a difference between Obama and Romney, please ask them to list three of those differences for the rest of us to laugh at. People like that should go study George Carlin for a while. But of course, they wouldn't get it. "It seems the grown-ups are starting to respond to all the cheesy-whiners you've been enduring lately. As someone mentioned in the DR (probably Bill Bonner), if you stand back and look at the political news of the day, it's not really any different than the news of the day a year ago."
"I value all of the information from my free and paid subscriptions, as it never fails to advise me when political events might affect my future wealth and what might help to avoid it. There are those that still see politics as a solution to economic issues; they get their panties in a bunch when authorities that they assumed were of like political mind turn out to be free thinkers. "I was there once in my life, but liberty and market-oriented people helped me find a better way. I think a few of them will be future freethinkers and even subscribers to your paid newsletters, as you have rocked the boat of their delusions by having the integrity to tell the truth. "Keep it up; The 5 is good medicine for all of us (and elicits an appreciation for your wit, as well as an occasional gut-wrenching guffaw that mystifies my wife, as well). You are not only dispensers of some valuable analysis, but talented writers, as well."
"Example would be push for term limits in the House and Senate. Another example is passing a federal balanced budget amendment. If just these two things happened, methinks the U.S. economy would take off. "I for one would even pay our elected officials $10M or $20M or more for every year the budget was truly balanced. "It would be far cheaper, we would have clarity moving forward in business and the minor issues being fought over in today's campaigns would most likely self-correct because of increased tax revenue. The secret is to take the parties out of the equation." The 5: Which, alas, is why it will never happen… and the biggest bubble ever will inevitably burst.
The 5: Our voluminous archives, now going back five years, are available here.
"The Morro Bay plant has been used to provide power during peak usage periods over the last two decades or so. Flying over it last Wednesday, it looked like all three units were generating. "Diablo Canyon nuclear plant is always in the environmentalist cross hairs for similar reasons. "And San Onofre — dead, probably. "The rate payer will pay, as they always do. "I have hedged by putting in my own photovoltaic system. According to my calculations, it pays 8-10% on my net investment, depending on maintenance costs and after the 30% tax credit." The 5: Are you sure your local zoning busybodies are OK with that? Cheers, Dave Gonigam The 5 Min. Forecast P.S. Wow… Shares of a certain clothing retailer dropped 2% on the open this morning, triggering Steve Sarnoff's latest Options Hotline trade. In less than one hour, the put options jumped 44%. We can't guarantee every trade will move that far and that fast… but you do stand a very good chance of taking home a winner on your very first trade. You can get started here.
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| Boom Goes The Dynamite: Silver Pops Posted: 20 Aug 2012 01:33 PM PDT But gold has risen with only slightly more than 1% of the world's assets in gold. Right now the world's assets are about $150 trillion. Of that number, $60 trillion is in cash, $40 trillion is in bonds, and $40 trillion is in stocks. But, remarkably, only $2 trillion or just a bit over 1% is in gold. - Egon Von Greyerz on King World News  After almost 9 weeks of trying to break over $28, silver closed over over $28 on Thurs/Friday and, after a concerted and blatant attempt by the silver manipulating banks to take silver below $28 this morning, it inexplicably shot up like a roman candle at 9:12 a.m. Denver time. I say "inexplicably" because I could not find any specific news which might have triggered the move, the SPX did not move at all (so the move in silver was not in correlation with the stock market) and gold moved higher higher as well although not anything that closely correlates with the scale of silver's move. As subscribers to GATA's Le Metropolecafe know, one of Bill Murphy's sources in Switzerland - someone who is described as being in a position to know - has told Bill that JP Morgan is in trouble with its short position in silver. Please note, that we only see JP Morgan's massive, illegal but unpoliced short position on the NY Comex market. We have no idea what its short position on the LBMA or in OTC silver derivatives looks like (although we do know that JP Morgan has by far the largest position in OTC "metals" derivatives per the quarterly BIS report). Beyond that we do not know much other than JP Morgan has been the big manipulator in the silver market for many years and likely does so on behalf of the Federal Reserve/U.S. Government. We also know that at some point in the future that JPM's paper short position in silver is potentially the equivalent of a small nuclear device embedded deeply the bank's bowels. The trigger will be the point at which counterparties to JPM's short position demand physical delivery of the silver JPM is derivatively short on the Comex, LBMA and OTC derivatives market. On this note, given that JPM is the custodian for the massive SLV ETF, which means JPM is the gatekeeper on the enormous stockpile that SLV is supposed to have stored in JPM-controlled vaults, I would not advise anyone to own SLV. SLV, like GLD, has the potential to be another Enron. Just for the record, JP Morgan was one of Enron's primary advisory banks. 
This posting includes an audio/video/photo media file: Download Now |
| Posted: 20 Aug 2012 01:20 PM PDT Synopsis: An international banker reveals the most important action to take in order to truly protect your assets. Dear Reader, We're doing something a little different this week in Metals & Mining Monday. Jeff Clark interviewed Chuck Butler, senior vice president of world markets at EverBank at our last Summit, and even though a few months have passed, the information is just as valid today, if not more so. In this twelve-minute video, Jeff asks Chuck about inflation vs. deflation, why the US dollar is still holding up, how much gold and silver to own, the best currencies for diversification, and his best advice for investors. Enjoy the video or the transcript below… Enjoy, Louis James Senior Metals Investment Strategist Casey Research Rock & Stock Stats[RIGHT]Last One Month Ago One Year Ago[/RIGHT] Gold1,614.791,583.041,790.73Silver28.1827.3040.32Copper3.393.454.03Oil95.6089.2287.58Gold Producers (GDX)45.3441.70...
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| High-Frequency-Trading Tail Wagging the Silver Price Dog Posted: 20 Aug 2012 12:31 PM PDT The use of HFT computer systems to execute large deals rapidly in electronic markets typically allows their users to take advantage of short-lived pricing disparities in large size. Furthermore, the growth of High Frequency Trading or HFT in the silver derivatives market is exerting an ever-increasing influence on the price of physical silver. Unfortunately, the hedge fund crowd is now often mindless relying on computers to do their thinking for them. These imperfect but rapid trading systems evolved to exploit markets that were originally intended to create a fair place to discover price and generate capital and funding for business. Now that the human element is increasingly being replaced by computer programs, the HFT process has morphed into the game of picking up pennies in front of a steam roller. Another highly undesirable result of HFT is that it can cause and exacerbate mini flash crashes, which can increase volatility by creating wild price swings in the si...
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| Great Expectations for Silver in an Inflationary World Posted: 20 Aug 2012 12:27 PM PDT Many observers currently expect the Chinese economy to land softly, perhaps relying on domestic stimulus measures alone. Nevertheless, while the inflationary bias in the developed world made it easier to accept more economic stimulus plans in 2008, the situation is now different. This means that China and other developing Asian countries are now being faced with increased de-leveraging and other fear-based financial concerns, much like Western countries have experienced in recent years. Furthermore, both the economic trend and investor psychology is now moving against these nations. This means that either much more stimulus will be needed than anticipated or these emerging economies will collapse, thereby creating massive ripples throughout the global economic system. Similarly, the Western return on investment bias underlies the assumption that investors will re-enter equities and other assets this time around. That bias is changing, although it may not appear that wa...
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| Mining shares are contrarian's dream, Hathaway tells King World News Posted: 20 Aug 2012 12:23 PM PDT 2:15p ET Monday, August 20, 2012 Dear Friend of GATA and Gold (and Silver): Tocqueville Gold Fund manager John Hathaway today tells King World News that precious metal mining shares are now a contrarian's dream and starting to outperform the metal. As the world financial system is on the verge of breakdown or transformation, Hathaway says, gold ownership is the prerequisite of wealth preservation. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/20_Ha... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/. 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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| ‘Zero Inflation’ in U.S. = Hyperinflation Warning? Posted: 20 Aug 2012 12:12 PM PDT It's impossible to cover developments in the global economy, and the reporting of those developments without feeling a lot like Alice in Wonderland – surrounded by legions of "Mad Hatters". This is especially true when covering the realm of anti-logic known as the U.S. economy. We're told that the U.S. economy has been experiencing an "economic recovery" for the past 3+ years – led by manufacturing growth – while its energy consumption has plummeted so fast that the world's great Energy Glutton is now a "net-energy exporter." We watch reports of U.S. home-builders starting construction on roughly twice as many homes as they sell, month after month, year after year – and then the media Mad Hatters tell us that the inventories of unsold new homes have been plummeting downward all this time.
We're told that U.S. Treasuries should be fetching (by far) their highest prices in history – even though the U.S. is hopelessly bankrupt when using the same accounting standards it requires of its own corporations. We're told by one of the more esteemed Mad Hatters that Treasuries prices and Treasuries supply should be simultaneously increasing exponentially. So it comes as little surprise to this "Alice in Wonderland" scribe to see Asian governments meeting to discuss a "food-price shock" while simultaneously the U.S. government reports "zero inflation" in its own economy. Here readers must understand that the U.S. propaganda machine does not deliberately produce utterly laughable propaganda, which no adult with a functioning brain could possibly swallow. The whole point of producing propaganda is to make it plausible, as the more absurd the lies, the sooner that a propaganda machine permanently destroys its own credibility. Thus the serial lies coming from the U.S. government's statisticians have not become rapidly more ridiculous simply because these Liars are bored – and looking to generate a few, cheap laughs. Rather, the propaganda becomes more and more absurd because it is rapidly becoming harder to stretch these statistical lies so that they report anything other than "U.S. economic collapse."
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| Gold, Money, Power and 9/11 Coverup Posted: 20 Aug 2012 12:10 PM PDT In 1971, when the US cut the ties between money and gold, gold as money ceased to exist. Gold as power, however, continued. But because gold is power there is little real information on the connection between the two; and that information is often misleading as the powerful prefer secrecy and the true movements of gold are no exception. I would like to share some information I discovered about the world of gold and power that will shed light on some very critical issues; and, because of power’s purposefully hidden path, the truth here can only be approached obliquely.
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| Gold Price and Indian Demand Shifting Trends Posted: 20 Aug 2012 12:01 PM PDT One of the top stories in the financial markets in 2012 has to be the stagnation in the price of gold at around $1600 an ounce, which is down approximately 17% from its peak at $1920.30. Those bullish on the yellow metal have ... Read More...
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Dick Bove has garnered headlines again with this startling, stale revelation: "Increased regulations are making it tougher on banks and the consumers they serve but easier on the financing system that helped create the 2008 credit crisis."
"I hear more and more people say the market is rigged against them," writes Chris Mayer. "They say it is a game for insiders to fleece gullible outsiders.
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