Gold World News Flash |
- Will the Republicans Be Returning to Gold?
- CHAOS & COLLAPSE in FRONT of US, GOLD, SILVER & MORE – Eric Sprott:
- Ron Paul feted in raucous six-hour farewell rally in Tampa
- The Next 3 Weeks Critical as Gold & Silver Prepare For Take Off
- Silver Update 8/26/12 Faux News
- Silver Spikes on Globex Open, Clears $31
- Doug Casey on the ‘Worsening Storm,' QE3 and the Hard Assets Alliance
- Do It Now – Wait or Die
- Fed & The ECB Are Involved In A Dangerous Game Of Poker
- New Cyclical Bull Underway in Gold Stocks
- Full audio posted of King World News interview with Eric Sprott
- MORE THREATS PILING UP
- Don't Challenge The Orthodoxy . . . Unless You Want to be Fired
- Alasdair Macleod: The purpose of market intervention
- Got Gold Report for August 26, 2012
- Guest Post: The Rot Runs Deep 1: The Federal Reserve Is A Parasitic Wealth Transfer Machine
- Gold Market Update
- Silver Market Update
- The Olympics, Comparative Advantage, Competition and the Value of Winning
- Silver Uptrend Pending Break of Major Downtrendline
- Gold Needs to Consolidate Before Commencing Major Uptrend
- America’s Descent Into Poverty
- The US Dollar, the World's Controller
- Libertarian legion stands ready to accept torch from Ron Paul
- Propaganda, Politics, and the Gold Standard
- Major short covering in gold and silver futures, Norcini tells King World News
- Peter Brimelow: Is gold heading to $4,500?
| Will the Republicans Be Returning to Gold? Posted: 26 Aug 2012 11:36 PM PDT Bullion Vault
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| CHAOS & COLLAPSE in FRONT of US, GOLD, SILVER & MORE – Eric Sprott: Posted: 26 Aug 2012 11:15 PM PDT from KingWorldNews:
Everyone knows there's a financial crisis going on. And if they (central banks that have leased out gold) ever try to get it back, they'll never get it back, and who knows where the price of gold can go, but it can go a long, long way from here. I argue that there is 6,500 tons of demand and 4,000 tons of supply (each year), and the extra 2,500 tons is coming out of central banks that are leasing it. Imagine if they just stopped leasing it. Who knows where the price would go? You would get such chaos (disorderly upside trading in gold). LISTEN NOW @ KingWorldNews.com
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| Ron Paul feted in raucous six-hour farewell rally in Tampa Posted: 26 Aug 2012 10:56 PM PDT By Deborah Charles http://news.yahoo.com/ron-paul-feted-raucous-six-hour-farewell-rally-012... TAMPA, Florida -- Thousands of die-hard Ron Paul supporters paid no heed to Tropical Storm Isaac on Sunday and held a marathon rally in Tampa to celebrate the 77-year-old congressman, who gave a farewell speech of more than an hour about his libertarian views. As Republican National Committee officials scrambled to adjust the storm-shortened schedule for this week's convention to nominate Mitt Romney for president, Paul followers gathered across town at the University of Southern Florida's Sun Dome. Paul, who is retiring from Congress this year after a colorful career and three failed White House runs, looked embarrassed as he got a prolonged standing ovation from an ear-splitting crowd as music thumped "Ron Paul, Ron Paul" in the background. ... Dispatch continues below ... 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/. Paul, who is retiring from Congress this year after a colorful career and three failed White House runs, looked embarrassed as he got a prolonged standing ovation from an ear-splitting crowd as music thumped "Ron Paul, Ron Paul" in the background. He praised his supporters for backing his vision of reduced government and increased personal liberties and urged them to continue the movement even now that his presidential bid had ended. "The convention is very important this week. ... (But) there's something even more important than all that and that is the cause that we're leading, the cause for liberty and the attention that we're getting right now," said the Texas congressman. In his last speech of the long campaign season, Paul gave a rambling, 65-minute discourse that jumped from one topic to another and made reference to novels and history. But the crowd stayed engaged, chanting "President Paul, President Paul" and cheering his belief government should be cut. Filling seats up to the basketball arena's rafters, the sign-waving crowd had already spent most of the five hours before Paul spoke listening to speakers bashing mainstream Republicans, the Federal Reserve and calling for an end to U.S. military involvement overseas. A favored topic was getting rid of the Federal Reserve Bank. South Carolina state Sen. Tom Davis got the crowd revved up into a frenzy when he criticized the central bank chairman. "Ben Bernanke is a traitor and a dictator," Davis said to roars from the crowd as they stood and stomped on the floor. Paul told The New York Times this weekend that he was not speaking at the convention because he did not want to give Romney a full-fledged endorsement. His son Rand, a U.S. senator from Kentucky who is seen as the future of the "Ron Paul Revolution," is speaking at the convention and has supported Romney. Republican officials and the Romney campaign were worried that Paul's often-rebellious supporters would stage an unlikely attempt to have him nominated at the convention, and distract attention from the party's message of defeating President Barack Obama on November 6. But Paul backers, a unique combination of conservatives, the young, retired members of the military and independents, have been placated in part by the party putting ideas like an audit of the Federal Reserve -- something he has long supported -- onto the party platform. Nevertheless, Paul and several of the rally's speakers Sunday afternoon blasted the national committee for changing rules to make it tougher for an outsider like him to get delegates to become a candidate with a realistic chance of advancing in the nominating process. Paul failed to win any states in this year's Republican primary and caucuses votes but gathered up to 200 delegates, enough to cause disruption at the convention. Paul's message of sharply reducing the role of government, scrapping the Federal Reserve and ending the U.S. military presence overseas resonated this election cycle more than in previous years. It was seen as attractive to conservatives and some disillusioned Democrats in times of a deep budget deficit and war weariness. Paul joked about not being asked to speak at the convention. "Today I was very excited. I got a call from the RNC," he said. "They said they changed their mind. They were going to give me a whole hour and I could say anything I want -- tomorrow night." He paused to let the crowd realize convention events had been canceled for Monday night because of Tropical Storm Isaac. Then he said: "Just kidding, just kidding." 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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| The Next 3 Weeks Critical as Gold & Silver Prepare For Take Off Posted: 26 Aug 2012 09:40 PM PDT |
| Silver Update 8/26/12 Faux News Posted: 26 Aug 2012 09:20 PM PDT |
| Silver Spikes on Globex Open, Clears $31 Posted: 26 Aug 2012 09:00 PM PDT by The Doc, Silver Doctors:
Gold and silver have extended last week's rallies in early Globex trading prior to Monday's Asian open, with gold popping to $1675, and silver clearing $31. Friday's bearish looking COT reports notwithstanding, both metals are now above key averages, with the price for both metals trading ABOVE their respective 20 DMA, 50 DMA, 100 DMA, and 200 day moving averages. This should result in heavy momentum buying by the funds and algos on Monday and Tuesday, and should see gold and silver continue their rallies from last week. Look for silver to encounter resistance in the $31.50-$32 range, as the metals has now made a $4 vertical move higher without any significant correction. Silver's coming correction should take it back near $30, which we expect to hold as support, and would provide an excellent stacking opportunity if and when such a correction presents itself.
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| Doug Casey on the ‘Worsening Storm,' QE3 and the Hard Assets Alliance Posted: 26 Aug 2012 08:30 PM PDT by Anthony Wile, The Daily Bell:
Introduction: Doug Casey has appeared on hundreds of radio and TV shows and has been the subject of articles in People, US, Time, Forbes, The Washington Post and numerous other publications. For nearly three decades, Doug Casey and his team have been correctly predicting major budding trends in the overall economy and commodity markets. Daily Bell: Welcome, Doug. Give us an update on what you call the "Greater Depression." Doug Casey: A depression is a period of time when most people's standard of living drops significantly. I think we can argue that this one really started in 2008. For the last couple of years, by printing up trillions of currency units, governments have − so far successfully − papered things over. Instead of allowing markets to liquidate, their currency printing has made it possible for people to continue living beyond their means. It's just a question of time before things really come apart but it's impossible to say exactly how much time. My guess is, based on what is happening in Europe and what I think will be happening shortly in China, is that we go back into the storm within a few months. As you know, it's not a good idea to predict both an event and its timing. But I'm an economist − which is to say, someone who tries to describe the way the world works − not a fortuneteller. So I'm willing to take a shot at the timing… Daily Bell: We asked you last time how long you thought it would take before there is a complete breakdown in confidence of the US dollar.
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| Posted: 26 Aug 2012 08:00 PM PDT by Holly Deyo, SHTFPlan:
Stan and I augmented our food supplies this week after thinking we were finished. Finito. Put to bed. Done. Rethink… Famine is on the horizon and seeing the highest food prices in history should zap your sleepy brain cells. This disaster is propelled by these simultaneous factors:
This prep warning is not limited to food. Not by a long shot. DYING BY SLOW DANCE Before us is the perfect combination for slow death and civil war. Nothing propels society into chaos like seeing children starve and wanting basic necessities. Furthermore, what faces Americans has never been experienced, not by this generation. Not ever. Not in the Great Depression. Not during the Civil War.
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| Fed & The ECB Are Involved In A Dangerous Game Of Poker Posted: 26 Aug 2012 07:26 PM PDT  Today Michael Pento writes exclusively for King World News to put readers ahead of the curve on what is happening with central planners. Pento noted the struggle in Europe, "... the EU 17's unemployment rate now stands at a Euro-era record of 11.2%." Pento also warned, "... gold and oil ETFs should provide the best protection if war breaks out in the Middle East or if central banks decide to launch another significant attack on fiat currencies." Here is Pento's piece: "The European Central Bank and the Federal Reserve have both telegraphed that another round of currency depreciation is in the offing. The ECB's Mario Draghi has pledged to do 'whatever it takes' to save the Euro currency, by setting specific targets for Italian and Spanish bond yields."
This posting includes an audio/video/photo media file: Download Now |
| New Cyclical Bull Underway in Gold Stocks Posted: 26 Aug 2012 06:49 PM PDT The confirmation of the bottom is obvious. Now what? Well, the question is if the sector will continue to zoom higher similar to 2005 and 2009 or if it will consolidate for months (similar to 1972 and 1977) before making a parabolic advance ... Read More...
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| Full audio posted of King World News interview with Eric Sprott Posted: 26 Aug 2012 06:26 PM PDT 8:24p ET Sunday, August 26, 2012 Dear Friend of GATA and Gold: Technical problems delayed the posting of the full audio of the latest King World News interview with Sprott Asset Management CEO Eric Sprott, but the audio is now posted at King World News here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/8/26_E... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT GoldMoney adds Toronto vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada. GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold. Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order. GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata 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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| Posted: 26 Aug 2012 04:47 PM PDT You can count on the Economic Collapse Blog http://theeconomiccollapseblog.com/ to find the black clouds on the horizon. We've already addressed many of these issues on TBP, but its a good summary. 8 Economic Threats That We Were Not Even Talking About At The Beginning Of The Summer In the crazy times in which we live, [...]
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| Don't Challenge The Orthodoxy . . . Unless You Want to be Fired Posted: 26 Aug 2012 04:39 PM PDT Don't Challenge The Orthodoxy (Market-ticker.org) I happen to find the esoteria between the gold bugs and various other flavors (and, in my view, mis-flavors) of Misean thought to be highly amusing. From my perspective there's only one point worthy of … Continue reading
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| Alasdair Macleod: The purpose of market intervention Posted: 26 Aug 2012 04:29 PM PDT 6:26p ET Sunday, August 26, 2012 Dear Friend of GATA and Gold: GoldMoney research director Alasdair Macleod explains today why big business loves government intervention in the economy: It's a source of subsidy and price fixing and thus is anti-market and anti-consumer. Macleod's commentary is headlined "The Purpose of Market Intervention" and it's posted at GoldMoney here: http://www.goldmoney.com/gold-research/alasdair-macleod/the-purpose-of-m... 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 GoldMoney adds Toronto vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada. GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold. Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order. GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata
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| Got Gold Report for August 26, 2012 Posted: 26 Aug 2012 03:25 PM PDT Vultures (Got Gold Report Subscribers) please log in to the Subscriber pages and navigate to the Got Gold Report Video Section to view a new video offering released Sunday, August 26. To continue reading, please log in or click here to subscribe to a Got Gold Report Membership
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| Guest Post: The Rot Runs Deep 1: The Federal Reserve Is A Parasitic Wealth Transfer Machine Posted: 26 Aug 2012 02:05 PM PDT Submitted by Charles Hugh-Smith of OfTwoMinds blog, The Federal Reserve is a wealth transfer machine, skimming wealth from the productive many and transferring it to the parasitic few. Today I launch a series entitled "The Rot Runs Deep" that examines the moral and financial rot at the core of American finance, politics and culture. We have reached a unique junction of American history: the confluence of Big Lie propaganda, neofeudalism and the worship of false financial gods. The Big Lie propaganda machine of corporate media and the Central State has perfected Orwell's nightmare vision of centralized media and a fascist centralized State which turn lies into self-serving "truth." Since the Federal Reserve is once again expected to "save" a crumbling, exploitative Status Quo, let's use the Fed as an example. The propaganda machine would have us believe that the Federal Reserve, the privately owned central bank of the U.S., has "saved" the Status Quo from financial ruin on numerous occasions by "smoothing out" the business cycle (credit expands and contracts) and by "stimulating aggregate demand" by lowering interest rates and pumping money into the economy (quantitative easing). We are constantly prompted to worship the Federal Reserve's supposedly god-like powers to rescue a corrupt and venal Status Quo from the black hole of recession and collapse, and this Big Lie masks its real nature: The Fed is nothing but a parastic wealth transfer machine, skimming wealth from the many and transferring it to the few. In effect, the Fed is the "enforcer" of neofeudalism in America: the feudal Lords of Finance control the for-sale political system and skim tribute from the 99.5% toiling in the fields below their castles. The Fed enforces this parasitic transfer of wealth by manipulating interest rates to enrich the banks and provides "free money" to the Financial Lords which is then used to buy assets and lend at interest. The mechanisms of the Fed's parasitic transfer of wealth are well-known. Here's one: the Fed "loans" money to the Feudal Lords at 0% interest. the Lords then loan this free money out to peasants, students and other debt-serfs at high rates of interest. The interest "earned," courtesy of the parasitic Fed, is theirs to keep. If they can't find enough debt-serfs who can pay more interest, they can always deposit the free money back at the Fed and earn interest from the Fed itself. Here's another: the Fed "loans" free money (0% interest) to the Financial Lords, who then buy low-risk long-term U.S. Treasury bonds paying 3%. When the Lords spot a better skimming opportunity, they sell the bonds to the Fed, who buys the bonds from the Lords as part of its "Operation Twist." Peasants who have arduously saved up capital (cash) earn next to nothing as a result of Fed policy, but the Fed insures Feudal Lords earn a guaranteed return on money they obtained for free. The suppression of interest income to near-zero (a negative return once inflation is factored in) is a massive transfer of wealth from savers to Fed-backed speculator Lords and banks. As a direct and intentional result of the Fed's quantitative easing, huge sums of "free money" slosh into the "risk-on" stock market, where the money provides liquidity for the Lords' high-frequency trading (HFT) skimming operations. The losers are the peasants who have been locked into 401K plans that divert their earnings into the stock market, where the Lords' HFT can skim billions from the 401K plans. The Fed guarantees the Lords free money, and also supports the Financial Lords' speculative bets in the stock market; whenever the market threatens to swoon, the Fed intervenes and manipulates the markets up to levels where the HFT machines will trigger momentum buying. What do we call a power center that enables and enforces neofeudal exploitation and predation? We call it evil. The Federal Reserve is a force of evil that should be abolished at once. Its purpose--enabling and enforcing a neofeudal transfer of wealth from the productive many to the unproductive, parasitic few--is evil. Those within it are serving evil. Those who defend it are serving evil. Those who worship its power are serving evil. Those who mask its true nature are also serving evil. In a society and culture that has lost its moral compass, a culture of greed, self-serving lies and corrupt vested interests, the word "evil" has lost its power. It has been reduced to a cartoonish label, a cynic's smarmy joke. The Soviet Empire was evil, and President Reagan was mocked by "sophisticates" for labeling our global competitor evil. In the relativist terms of propaganda, the only difference between the U.S. and the U.S.S.R. were two letters; this is the mindset created by a reliance on propaganda. There is no good or evil, there is only the paycheck "earned" by serving one master or another. Anyone daring to label the widely worshipped Federal Reserve as a false god, a purveyor and enforcer of predation and exploitation, will also be mocked by presumptive "sophisticates" of the many Cargo Cults that depend on the neofeudal skimming, exploitation and lies for their own share of the spoils. Their self aggrandizement and share of the swag demands obedience to the Fed's godlike power to skim from the many and distribute to the few. Since they are among the few, they will do anything for their Master, the Federal Reserve, for it has the power they worship: the power to transfer vast wealth from the productive many to the parasitic few. Should we be surprised that the parasites in the media, academia, politics and finance support the evil that enables their own predation and exploitation? Of course not, for self-service and self-justification are the ultimate American gods.
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| Posted: 26 Aug 2012 01:54 PM PDT Last week we got what we had expected - and prepared for - for weeks, an upside resolution of the tight standoff in both gold and silver. Actually, gold signaled that it was going to go up several weeks back, when it broke out of the ... Read More...
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| Posted: 26 Aug 2012 01:53 PM PDT The sharp advance by silver last week was presaged by the late July breakout from the important "inner" downtrend that we had earlier delineated, which had been in force from early March, as we can see on the 8-month chart ... Read More...
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| The Olympics, Comparative Advantage, Competition and the Value of Winning Posted: 26 Aug 2012 11:56 AM PDT Gary M. Galles writes: We have just finished our quadrennial search for who is the very best in the world in a dizzying array of sports. We discovered who was absolutely the best at a given time, under the same circumstances, even if it was by a fraction of an inch or a hundredth of a second. But, especially in those photo finishes that provided audiences so many thrills, it seemed that the differences in rewards (gold versus silver medal, bronze medal versus off the medal stand, making the team or the finals versus just missing them, etc.) were far greater than the often small differences in performance.
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| Silver Uptrend Pending Break of Major Downtrendline Posted: 26 Aug 2012 11:50 AM PDT The sharp advance by silver last week was presaged by the late July breakout from the important "inner" downtrend that we had earlier delineated, which had been in force from early March, as we can see on the 8-month chart for silver shown below. So is that it - are we on our way now? - almost, but there is one remaining major hurdle left to clear. Before going on to consider what that is we should take note of the fact that silver is now critically overbought short-term overbought as shown by its RSI indicator, and it has also run into a still falling 200-day moving average, factors which point to a high probability of it pausing to consolidate or perhaps react back somewhat in the immediate future - if it does keep going higher near-term, the advance is likely to be measured. The fact that the 50-day moving average is still some way below the falling 200-day also suggests that some more time is needed before the major uptrend expected gets into full swing.
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| Gold Needs to Consolidate Before Commencing Major Uptrend Posted: 26 Aug 2012 11:45 AM PDT Last week we got what we had expected - and prepared for - for weeks, an upside resolution of the tight standoff in both gold and silver. Actually, gold signalled that it was going to go up several weeks back, when it broke out of the Triangle shown on its 8-month chart below, in late July. The breakout from the Triangle was on good volume, and it then consolidated in a nice tight Pennant pattern before breaking higher to run ahead sharply last week.
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| America’s Descent Into Poverty Posted: 26 Aug 2012 11:32 AM PDT The United States has collapsed economically, socially, politically, legally, constitutionally, environmentally, and morally. The country that exists today is not even a shell of the country into which I was born. In this article I will deal with America’s economic collapse. In subsequent articles, i will deal with other aspects of American collapse.
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| The US Dollar, the World's Controller Posted: 26 Aug 2012 11:28 AM PDT The administration of Britain's Standard Chartered Bank has been accused of violating U.S. laws this week. The bank allegedly concealed illegal operations with Iranian financial institutions in circumvention of U.S. sanctions against Tehran. How can one accuse a non-US company of violating U.S. law? It can be possible due to the use of dollars in settlements.
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| Libertarian legion stands ready to accept torch from Ron Paul Posted: 26 Aug 2012 11:08 AM PDT By John Harwood http://www.nytimes.com/2012/08/26/us/politics/ron-paul-passing-torch-to-... TAMPA, Florida -- The future of what Ron Paul started rests with supporters like Ashley Ryan, who will attend Mr. Paul's final presidential campaign rally here with decidedly mixed feelings. Ms. Ryan, a 21-year-old college student, will take over as Maine's national committeewoman after sitting as a Paul delegate at this week's Republican National Convention. But in a credentials dispute, hard-bargaining party leaders left Paul forces with only half the Maine delegates they thought they had won this year -- a blunt reminder of Mitt Romney's grip on the proceedings. "It was a huge slap in the face," Ms. Ryan said. Though her unseated Maine colleagues can attend with guest passes furnished by the Iowa delegation, she said, "I was very disappointed." ... Dispatch continues below ... 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/. Yet Mr. Paul's supporters can celebrate achievements that an earlier generation of libertarians never tasted. Despite Tropical Storm Isaac, Mr. Paul is still scheduled to stage a valedictory rally on Sunday before an estimated 10,000 supporters at the University of South Florida's Sun Dome. Its speakers, including Ms. Ryan, were planning to send the Republican Party a message about their commitment to grow in influence as the 77-year-old Mr. Paul moves on. The libertarian movement has always boasted intellectual champions. But it has gotten something new from Mr. Paul, the iconoclastic veteran House member from Texas, whose small-government, low-tax, noninterventionist views found new attention in the Tea Party era and served as the focus of a determined grass-roots effort to shake up the Republican establishment. Over three separate presidential bids, Mr. Paul has given libertarians a leader from the world of electoral politics, a beachhead within the party and a passionate if disparate army of activists. The onetime obstetrician has even bequeathed the movement a successor: his son, Senator Rand Paul of Kentucky. "We used to say most people found libertarianism by reading Ayn Rand," said David Boaz of the Cato Institute, a libertarian research organization in Washington. "In the last five years, most people have found libertarianism by listening to Ron Paul." Brian Doherty, an editor at Reason magazine and a historian of the libertarian tradition, goes so far as to call the Texas Republican "a miracle." Before Mr. Paul, the movement found many admirable traits in political figures like Barry M. Goldwater and Ronald Reagan -- but also big disappointments. Even now, backers like Ms. Ryan see the Paul campaign ending in a fizzle rather than a bang at the convention. In addition to disappointments over delegates, Mr. Paul, who finished second to Mr. Romney in New Hampshire's signature primary, will not get to address the party convention. That reflects both sides of the movement's new circumstances. To enhance its long-term viability among Republicans, Paul campaign leaders decided to cooperate with Romney forces for a smooth convention, while eschewing compromises that would have alienated core supporters even more. Mr. Paul, in an interview, said convention planners had offered him an opportunity to speak under two conditions: that he deliver remarks vetted by the Romney campaign, and that he give a full-fledged endorsement of Mr. Romney. He declined. "It wouldn't be my speech," Mr. Paul said. "That would undo everything I've done in the last 30 years. I don't fully endorse him for president." Mr. Paul's campaign chairman, Jesse Benton, acknowledged the frustrations that the Paul high command had been forced to manage. Some true believers want to "dress in black, stand on a hill and say, 'Smash the state,'" said Mr. Benton, who is married to one of Mr. Paul's granddaughters. But "it's not our desire to have floor demonstrations. That would cost us a lot more than it would get us." Just eight years ago, "it was fringy people in the John Birch Society" who were espousing Mr. Paul's ideas for taking on the Federal Reserve system, Mr. Benton said. "Now it's the Republican Party" that has drafted a platform plank calling for auditing the central bank. The purity of the movement's principles has long left it in self-imposed isolation. The minimalist role it envisions for government repels a vast majority of Democrats; its noninterventionist foreign policy and live-and-let-live social views repel most Republicans. The Pew Research Center's most recent study of groups within the electorate, conducted last year, categorized 10 percent of registered voters as libertarians. But even that relatively small group, said the center's president, Andrew Kohut, held more moderate views on the role of government and foreign affairs than Mr. Paul. Still, Mr. Paul has managed to expand the movement's ranks. The two million votes he received in this year's Republican nominating contests were nearly five times the number he received as the Libertarian Party's presidential nominee in 1988. He largely credits fortunate timing. The 2008 financial crisis and growing fatigue with the wars in Afghanistan and Iraq made some voters more receptive to his message on monetary and military policies. "There's a lot of luck in politics," he said. Simple generational change could give the movement a boost in elections to come. Younger voters of all stripes display increasing tolerance on social issues like same-sex marriage; the fiscal conservatives among them will fit into the libertarian camp far more easily than older, conservative Christian Republicans. In New Hampshire, for instance, Mr. Paul drew half his votes from people under 45. Three-fourths of Mr. Romney's votes came from people 45 and older. Mr. Doherty, the author of a history of libertarianism called "Radicals for Capitalism," credited Mr. Paul with "normalizing" a movement once derided as kooky. But he said the movement must remain aggressive to grow more rapidly and avoid being taken for granted the way, in his view, Republicans have taken for granted the religious right. "It can't be growth just by age attrition," he said. "The young people have to start connecting with the older people." A further challenge is expanding the movement's support among women, who tend to express higher support for activist government than men do. The most promising avenue, Mr. Benton said, may be the antiwar stance that Mr. Paul has articulated. Balancing pragmatism and principle could prove tricky for Rand Paul, who Mr. Boaz said "sees himself as a potential presidential nominee." Senator Paul has shown a greater commitment than his father to operating within Republican Party institutions. The foremost recent example: in June, he gave Mr. Romney the endorsement that his father would not. "There were a lot of people who were upset" at the endorsement, said Ms. Ryan, the Maine delegate. "Rand's going to have a lot of work ahead of him to secure his base if he wants to be the next liberty candidate." 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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| Propaganda, Politics, and the Gold Standard Posted: 26 Aug 2012 09:13 AM PDT It wouldn’t be a normal day in the life of the 24-hour news cycle if there weren’t some type of campaign against gold and its proper role as money. True to form, The Financial Times stepped to the plate to launch a rather hilarious attack on gold in the context of an article which discusses the idea that one half of our Diet Coke/Diet Pepsi political system is contemplating adding what is the equivalent of a feasibility study on returning to the gold standard to its political platform.
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| Major short covering in gold and silver futures, Norcini tells King World News Posted: 26 Aug 2012 08:24 AM PDT 10:20a ET Sunday, August 26, 2012 Dear Friend of GATA and Gold: In the weekly monetary metals market review at King World News, futures market analyst Dan Norcini reports major short covering in gold and silver last week as they broke out of their trading ranges. Norcini adds that speculators are rushing back into those markets. Also commenting is Bill Haynes of CMI Gold and Silver. An excerpt from the review is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/25_Ab... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT GoldMoney adds Toronto vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada. GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold. Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order. GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata 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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| Peter Brimelow: Is gold heading to $4,500? Posted: 26 Aug 2012 08:16 AM PDT By Peter Brimelow http://www.marketwatch.com/story/is-gold-heading-to-4500-2012-08-23 NEW YORK -- Gold makes its move. The bugs are rampant. The yellow metal made life very difficult for commentators trying to keep a regular schedule on Wednesday. MarketWatch's Claudia Assis can hardly have hit the send button on her story headed "Gold ends lower as other metals gain," which dealt with the close of floor trading -- the December gold contract was down $2.40 -- when the Fed minutes set the market roaring. By the stock market close, gold had risen over $17 to stand 1% above Tuesday's stock market closing level and at the highest since early May. ... Dispatch continues below ... 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... Gold shares too came surging out of negative territory to finish with strong gains. The NYSE Arca Gold Bigs Index (HUI) closed up 2.21%, the highest since June 19 and up 17.2% since the recent low on July 24. This late development followed a strong day on Tuesday, which saw a floor close in the CME December contract of up $19.90 (1.23%) and a 1.69% gain in the HUI. This was enough to stimulate exuberant commentary by the Aden Forecast's GCRU service, published early Wednesday morning: "And. they're off! The markets have taken off. The train has left the station, and another leg up in the bull market is getting started." "Whether it be gold shares on their own, compared to gold, versus bonds or versus the stock market, gold shares are rising from the dead." GCRU had a particularly kind world for silver: "Silver broke above its 75-day [moving average] for the first time in four months, showing impressive strength! Silver's rise is the strongest it's been since the rise earlier this year." GCRU's prognostication: "Silver must break above $30 to confirm strength that could push it to the February highs near $37." The silver situation is exciting particular interest. Letter editors have noted that the metal had been achieving technical objectives earlier than gold during this move. Furthermore, according to Bill Murphy at the LeMetropoleCafe website, rumors of large silver purchases in London have been followed by stories of delivery problems being experienced by London Bullion Market Association members. Stories of this type, unfounded or not, could have an explosive effect on the thin silver market. The gold action caught the attention of market veteran Richard (Dow Theory Letters) Russell. Using a point-and-figure chart with a 2:30 p.m. Eastern Time cutoff, he noted: "Gold may finally be on its way to higher levels. Gold has risen to fill the $1,640 box, which is constructive. The next bullish action would be a rally to the $1,650 box. This would take gold clear out and above its consolidation base, and would put it in line to try for $1,680." (By 4 p.m., gold had cleared $1,650). Russell concluded his Wednesday evening note: "If gold takes off, the gold miners will look dirt cheap." The Got Gold Report last weekend quantified an expectation about the HUI: "A print above 445 would be very convincing to skeptics and set up a test of the 40-weekly moving average currently near 474." Wednesday's close was 454.44. And further? The Golden Truth website, reportedly written by a gold-market professional, says on Wednesday after a detailed chart discussion: "From both a fundamental and technical standpoint, the indicators for gold to make a run to new highs have not been this bullish in the 11-year bull market." At JSMineset, ultra-experienced old gold hand Jim Sinclair confines himself to republishing an Aug. 1 essay from technician Alf Fields: "The bottom line is that we now have a really strong probability that the correction which started at $1,913 on Aug. 23, 2011, has been completed both in terms of Elliott waves and also in terms of time elapsed." "If this is correct, the gold price should soon be expressing itself in violent upside action as it moves into the third of third wave, which is still targeted to reach $4,500." 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 GoldMoney adds Toronto vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada. GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold. Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order. GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata
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"I am sniffing that there's going to be a day when those central banks that are leasing it, realize they won't get it back, are going to put up the sign and say, 'No mas. We're not going to sell any more. We've lost this game.' (They will ask themselves) what are we doing here? Why do we keep suppressing the price of gold? 
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